TY - JOUR

T1 - How much do others matter?

T2 - Explaining positional concerns for different goods and personal characteristics

AU - Hillesheim, Inga

AU - Mechtel, Mario

PY - 2013/2

Y1 - 2013/2

N2 - We test concerns for relative standing with respect to private consumption, income, leisure, savings, and personal characteristics, using data from a classroom survey. Our results show highest degrees of positionality for personal characteristics and income. In order to explain positionality, we employ survey participants’ ratings of items with respect to (i) observability and (ii) non-psychological negative externalities on others. Based on these ratings, our results show that non-psychological externalities play an important role for an item’s degree of positionality. In contrast to previous research, we find that there is no statistically significant effect of an item’s observability on its degree of positionality.

AB - We test concerns for relative standing with respect to private consumption, income, leisure, savings, and personal characteristics, using data from a classroom survey. Our results show highest degrees of positionality for personal characteristics and income. In order to explain positionality, we employ survey participants’ ratings of items with respect to (i) observability and (ii) non-psychological negative externalities on others. Based on these ratings, our results show that non-psychological externalities play an important role for an item’s degree of positionality. In contrast to previous research, we find that there is no statistically significant effect of an item’s observability on its degree of positionality.

KW - Economics

KW - Behavioral economics

KW - Relative consumption

KW - Other-regarding preferences

U2 - 10.1016/j.joep.2012.11.006

DO - 10.1016/j.joep.2012.11.006

M3 - Journal articles

VL - 34

SP - 61

EP - 77

JO - Journal of Economic Psychology

JF - Journal of Economic Psychology

SN - 0167-4870

ER -