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| Vincenzo Lombardo |
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| ''Relative consumption and human capital accumulation'' |
| ( 2013, Vol. 33 No.2 ) |
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| This paper shows that the interaction between consumption and production externalities generates multiple equilibria in a simple model in which individuals care of their relative consumption because holding a relatively advantageous position is instrumental to obtain productive benefits. |
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| Keywords: Relative consumption, status concerns, multiple equilibria. |
JEL: O1 - Economic Development: General
D3 - Distribution: General |
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| Manuscript Received : Mar 18 2013 | | Manuscript Accepted : Apr 26 2013 |
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