Well‐being and Affluence in the Presence of a Veblen Good
Bibliographic Data
| ID | 9720072 |
|---|---|
| Authors | B Curtis Eaton (University of Calgary), Mukesh Eswaran (0000-0001-6262-2882, University of British Columbia) |
| Year | 2009 |
| Volume | 119 |
| Issue | 539 |
| Pages | 1088-1104 |
| Publication date | 2009-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2009.02255.x |
| OpenAlex | W1997362625 |
| Language | EN |
| Citations received | 7 |
| References cited | 24 |
The happiness literature has established that, in the developed countries, increasing affluence has not increased well-being in recent decades. We seek an explanation for this in terms of conspicuous consumption, a phenomenon originally identified by Veblen. We develop some simple general equilibrium models that incorporate a Veblen good, among others. In all of our models, as productivity increases, the Veblen good eventually dominates the economy in the sense that, by reducing leisure, more than all the added productivity is dissipated in the production of this good. Also, in the presence of a Veblen good, productivity increases destroy social capital. Copyright © The Author(s). Journal compilation © Royal Economic Society 2009
Economic history · Economics · Neoclassical economics · Sociology · Veblen good · Economic theories and models · History · Income, Poverty, and Inequality · Psychological Well-being and Life Satisfaction
Material and Consumer Identities
Triangle or ‘trilemma’
Empirics on the Long Run Relationship Between Economic Growth and Happiness
The Quebec Convergence and Canadian Life Satisfaction, 1985–2008
Well‐being and Affluence in the Presence of a Veblen Good
Jailhouse Frocks
Status, Caste, and the Time Allocation of Women in Rural India
How's life? Combining individual and national variables to explain subjective well-being
Well-being over time in Britain and the USA
What Can Economists Learn from Happiness Research?
Will raising the incomes of all increase the happiness of all?
The Origins of Happiness
The Theory Of The Leisure Class
Social Capital and Economic Development
Relative income concerns and the rise in married women's employment
Status-seeking and material affluence
Income, Saving and the Theory of Consumer Behavior
Income, Saving and the Theory of Consumer Behavior
Status Effects and Negative Utility Growth
Well‐being and Affluence in the Presence of a Veblen Good
Emulation, Inequality, and Work Hours
Relative Income, Happiness, and Utility
Status, Caste, and the Time Allocation of Women in Rural India
| Unique citing works | 7 |
|---|---|
| Citations per year | 0,41 |
| Citation span | 2009 - 2015 (7) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 7 |