Information-based relative consumption effects

doi:10.1111/j.1468-0262.2004.00479.x

Information-based relative consumption effects

2004-01-01

84

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AI

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Larry Samuelson

DOI：10.1111/j.1468-0262.2004.00479.x

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Abstract

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Preferences exhibit relative consumption effects if a person's satisfaction with their own consumption appears to depend upon how much others are consuming. This paper examines a model of an evolutionary environment in which Nature optimally builds relative consumption effects into preferences in order to compensate for incomplete environmental information.

Keywords:

relative consumption

consumption externalities

relative income

status

evolution

information

Information-based relative consumption effects

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