Status and income inequality in a knowledge economy
This paper models a market for status contained in a knowledge economy. Technological progress favours the knowledge sector and inequality of income rises with productivity. We show that the expected utility of all agents can fall while output and productivity grow; and such an outcome of “immiseriz...
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| Veröffentlicht in: | Journal of economic inequality 2014-12, Vol.12 (4), p.581-595 |
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| container_title | Journal of economic inequality |
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| creator | Peng, Baochun |
| description | This paper models a market for status contained in a knowledge economy. Technological progress favours the knowledge sector and inequality of income rises with productivity. We show that the expected utility of all agents can fall while output and productivity grow; and such an outcome of “immiserizing growth” hinges crucially upon the combination of concern for status and technology-induced rises in inequality. |
| doi_str_mv | 10.1007/s10888-014-9274-y |
| format | Article |
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| ispartof | Journal of economic inequality, 2014-12, Vol.12 (4), p.581-595 |
| issn | 1569-1721 1573-8701 |
| language | eng |
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| source | Business Source Complete; Springer Nature - Complete Springer Journals |
| subjects | Consumption Development Economics Economic Growth Economic models Economic theory Economics Economics and Finance Expected utility Global economy Growth models Income distribution Income inequality International International Economics Knowledge Knowledge economy Political Science Productivity Public Finance Studies Technological change Time series Tournaments & championships |
| title | Status and income inequality in a knowledge economy |
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