| Author: | Clark, A. Oswald, A. |
| Title: | Comparison-concave utility and following behaviour in social and economic settings |
| Journal: | Journal of Public Economics
1998 : OCT, VOL. 70:1, p. 133-156 |
| Index terms: | UTILITY THEORY SOCIETY ECONOMICS |
| Language: | eng |
| Abstract: | This paper describes a theory of rational emulation and deviance. It assumes that individuals care about relative position (or status), and constructs a model of decision-making in social and economic settings. The analysis shows why individuals who want to be different from others will, paradoxically, find it rational to imitate other people. The paper also provides a choice-theoretic foundation for a number of ideas in the social psychology and economics literatures. |
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