Resource allocation, affluence and deadweight loss when relative consumption matters

•We explore the link between affluence and well-being when a Veblen good is consumed.•Utility from the Veblen good is based solely on relative consumption.•Average utility and per-capita income may be inversely related.•The source of affluence, increased labour or resource productivity, is important...

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Veröffentlicht in:	Journal of economic behavior & organization 2013-07, Vol.91, p.159-178
Hauptverfasser:	Eaton, B. Curtis, Matheson, Jesse A.
Format:	Artikel
Sprache:	eng
Schlagworte:	Affluence Consumption Deadweight loss Economic behaviour Economic models Economic organization Economic theory General economic equilibrium Relative consumption Resource allocation Studies Utility functions Veblen good
Online-Zugang:	Volltext
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