Files in this item
Consumption decisions when people value conformity
Item metadata
dc.contributor.author | Ulph, David Tregear | |
dc.contributor.author | Ulph, Alistair | |
dc.date.accessioned | 2014-10-21T13:31:02Z | |
dc.date.available | 2014-10-21T13:31:02Z | |
dc.date.issued | 2014-10-01 | |
dc.identifier.citation | Ulph , D T & Ulph , A 2014 ' Consumption decisions when people value conformity ' School of Economics & Finance Discussion Paper , no. 1414 , University of St Andrews , pp. 1-29 . | en |
dc.identifier.issn | 0962-4031 | |
dc.identifier.other | PURE: 155825228 | |
dc.identifier.other | PURE UUID: 76f72b70-bfa4-4a70-b07d-cf1e6f3df24e | |
dc.identifier.other | ORCID: /0000-0003-3171-1270/work/59464534 | |
dc.identifier.uri | http://hdl.handle.net/10023/5568 | |
dc.description.abstract | In this paper we assume that for some commodities individuals may wish to adjust their levels of consumption from their normal Marshallian levels so as to match the consumption levels of a group of other individuals, in order to signal that they conform to the consumption norms of that group. Unlike Veblen’s concept of conspicuous consumption this can mean that some individuals may reduce their consumption of the relevant commodities. We model this as a three-stage game in which individuals first decide whether or not they wish to adhere to a norm, then decide which norm they wish to adhere to, and finally decide their actual consumption. We present a number of examples of the resulting equilibria, and then discuss the potential policy implications of this model. | |
dc.format.extent | 29 | |
dc.language.iso | eng | |
dc.publisher | University of St Andrews | |
dc.relation.ispartof | en | |
dc.relation.ispartofseries | School of Economics & Finance Discussion Paper | en |
dc.rights | (c) the author 2014 | en |
dc.subject | strength of adherence to norms | en |
dc.subject | desire for conformity | en |
dc.subject | norm-consistent consumption interval | en |
dc.subject | participation-consistent consumption interval | en |
dc.subject | Nash equilibrium of three-stage game | en |
dc.subject | HB Economic Theory | en |
dc.subject.lcc | HB | en |
dc.title | Consumption decisions when people value conformity | en |
dc.type | Working or discussion paper | en |
dc.description.version | Postprint | en |
dc.contributor.institution | University of St Andrews. School of Economics and Finance | en |
This item appears in the following Collection(s)
Items in the St Andrews Research Repository are protected by copyright, with all rights reserved, unless otherwise indicated.