Economy and Social Status: Methods for Empirically Determining Status Effects on Ratio Satisfaction of Income
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Academic Publishing UNWE (AP-UNWE)
Abstract
Description
This articles summarizes the empirical study methods of the social status comparisons effects on subjective material well-being. The possibility to empirically check hypotheses about the impact of social status on economic behavior enables the inclusion of status into modern mainstream economic analysis.
Keywords
Veblen effect, Subjective well-being, Social status, Relative deprivation, B59 - Other, D91 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making