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Relative Wealth and Risk Taking: A Short Note on the Friedman-Savage Utility Function

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  • Gregory, Nathaniel

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  • Gregory, Nathaniel, 1980. "Relative Wealth and Risk Taking: A Short Note on the Friedman-Savage Utility Function," Journal of Political Economy, University of Chicago Press, vol. 88(6), pages 1226-1230, December.
    • Handle: RePEc:ucp:jpolec:v:88:y:1980:i:6:p:1226-30
    DOI: 10.1086/260936
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    Cited by:

    1. Heineck, Guido & Süssmuth, Bernd, 2013. "A different look at Lenin’s legacy: Social capital and risk taking in the Two Germanies," Journal of Comparative Economics, Elsevier, vol. 41(3), pages 789-803.
    2. Basak, Suleyman & Makarov, Dmitry & Shapiro, Alex & Subrahmanyam, Marti, 2020. "Security design with status concerns," Journal of Economic Dynamics and Control, Elsevier, vol. 118(C).
    3. Stark, Oded & Budzinski, Wiktor & Jakubek, Marcin, 2019. "Pure rank preferences and variation in risk-taking behavior," Economics Letters, Elsevier, vol. 184(C).
    4. Antoni Bosch-Domènech & Joaquim Silvestre, 2005. "The gain-loss asymmetry and single-self preferences," Economics Working Papers 885, Department of Economics and Business, Universitat Pompeu Fabra.
    5. Oded Stark, 2019. "On Social Preferences and the Intensity of Risk Aversion," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 86(3), pages 807-826, September.
    6. Becker, Gary S. & Werning, Ivan & Murphy, Kevin M., 2000. "Status, Lotteries, and Inequality," Working Papers 160, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
    7. Curry, Philip A., 2001. "Decision Making under Uncertainty and the Evolution of Interdependent Preferences," Journal of Economic Theory, Elsevier, vol. 98(2), pages 357-369, June.
    8. Rosen, Sherwin, 1997. "Manufactured Inequality," Journal of Labor Economics, University of Chicago Press, vol. 15(2), pages 189-196, April.
    9. Antoni Bosch & Joaquim Silvestre, 2003. "Do the Wealthy Risk More Money? An Experimental Comparison," Working Papers 10, Barcelona School of Economics.
    10. Denis Conniffe, 2007. "The Generalised Extreme Value Distribution as Utility Function," The Economic and Social Review, Economic and Social Studies, vol. 38(3), pages 275-288.
    11. Perez Truglia, Ricardo Nicolas, 2007. "Conspicuous consumption in the land of Prince Charming," MPRA Paper 22009, University Library of Munich, Germany, revised 22 Mar 2010.
    12. Nikolai Roussanov & Pavel G. Savor, 2012. "Status, Marriage, and Managers' Attitudes To Risk," NBER Working Papers 17904, National Bureau of Economic Research, Inc.
    13. Brennan C. Platt & Joseph Price & Henry Tappen, 2010. "Pay-to-Bid Auctions," NBER Working Papers 15695, National Bureau of Economic Research, Inc.
    14. Kazumi Shimizu & Rongyu Hu, 2024. "Why do people who think they have failed want to see the results more? An investigation based on the Ego Utility Model," Working Papers 2403, Waseda University, Faculty of Political Science and Economics.
    15. Coelho, Philip R. P. & McClure, James E., 1998. "Social context and the utility of wealth: Addressing the Markowitz challenge," Journal of Economic Behavior & Organization, Elsevier, vol. 37(3), pages 305-314, November.
    16. Yang-Ming Chang, 2008. "Risk Avoidance and Risk Taking under Uncertainty: A Graphical Analysis," The American Economist, Sage Publications, vol. 52(1), pages 73-85, March.
    17. Douglas W. Blackburn & Andrey D. Ukhov, 2013. "Individual vs. Aggregate Preferences: The Case of a Small Fish in a Big Pond," Management Science, INFORMS, vol. 59(2), pages 470-484, August.
    18. Dietmar Fehr & Yannick Reichlin, 2021. "Status, Control Beliefs, and Risk-Taking," CESifo Working Paper Series 9253, CESifo.
    19. Dimitry Rtischev, 2008. "Risk-Bearing in a Winner-Take-All Contest," Gakushuin Economic Papers, Gakushuin University, Faculty of Economics, vol. 45(1), pages 65-79.
    20. G. S Becker & K. M Murphy & Ivan Werning, 2000. "Status, Lotteries, and Inequality," University of Chicago - George G. Stigler Center for Study of Economy and State 160, Chicago - Center for Study of Economy and State.

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