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Relative consumption and human capital accumulation

Author

Listed:
  • Vincenzo Lombardo

    (University Parthenope)

Abstract

This paper shows that the interaction between consumption and production externalities generates multiple equilibria in a simple model in which individuals care of their relative consumption because holding a relatively advantageous position is instrumental to obtain productive benefits.

Suggested Citation

  • Vincenzo Lombardo, 2013. "Relative consumption and human capital accumulation," Economics Bulletin, AccessEcon, vol. 33(2), pages 1091-1100.
    • Handle: RePEc:ebl:ecbull:eb-13-00215
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2013/Volume33/EB-13-V33-I2-P103.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Relative consumption; status concerns; multiple equilibria.;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • D3 - Microeconomics - - Distribution

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