Conspicuous Consumption and Satisfaction
Copyright policy )Conspicuous Consumption and Satisfaction
Traditional tools of welfare economics identify the envy-related welfare loss from conspicuous consumption only under very strong assumptions. Measured income and life satisfaction offers an alternative for estimating such consumption externalities. The approach is developed in the context of luxury car consumption (Ferraris and Porsches) in Switzerland. Results from household panel data and fixed effects panel regressions suggest that the prevalence of luxury cars in the municipality of residence has a negative impact on own income satisfaction.
- University of Zurich Switzerland
- Economic Policy Institute United States
- Institute for the Study of Labor Germany
consumption externality, 2002 Economics and Econometrics, Sozialer Status, Luxusgut, 3202 Applied Psychology, ECON Department of Economics, 10007 Department of Economics, 3312 Sociology and Political Science, Schweiz, D12, I31, Konsuminterdependenz, status, ddc:330, Swiss Household Panel, Ferrari, Zufriedenheit, Luxusware, Ferrari, Porsche, status, consumption externality, Swiss Household Panel, 330 Economics, Wohlfahrtstheorie, D62, Kraftfahrzeug, Porsche, jel: jel:D62, jel: jel:D12, jel: jel:I31
consumption externality, 2002 Economics and Econometrics, Sozialer Status, Luxusgut, 3202 Applied Psychology, ECON Department of Economics, 10007 Department of Economics, 3312 Sociology and Political Science, Schweiz, D12, I31, Konsuminterdependenz, status, ddc:330, Swiss Household Panel, Ferrari, Zufriedenheit, Luxusware, Ferrari, Porsche, status, consumption externality, Swiss Household Panel, 330 Economics, Wohlfahrtstheorie, D62, Kraftfahrzeug, Porsche, jel: jel:D62, jel: jel:D12, jel: jel:I31
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