A Structural Comparison of Conspicuous Consumption in China and the United States
Statistical Modeling, Causal Inference, and Social Science 2013-05-13
Summary:
David Jinkins writes: The objective of this paper is to measure the relative importance of conspicous consumption to Americans and Chinese. To this end, I estimate the parameters of a utility function borrowed from recent theoretical work using American and Chinese data. The main parameter of interest governs the amount that individuals care about peer [...]
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