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| Author: | Ball, S. Eckel, C. |
| Title: | The economic value of status |
| Journal: | Journal of Socio-Economics
1998 : VOL. 27:4, p. 495-514 |
| Index terms: | ECONOMICS VALUATION STATUS |
| Language: | eng |
| Abstract: | Much of economic theory studies a model individual known as "economic man," who is super-intelligent and completely rational. He has well-defined preferences which can be understood by looking at the mathematical function used to represent them, and that are stable over time. Economic man can use epistemic logic to identify the equilibrium of any game: he will then play the most "refined" equilibrium strategy, believing that his opponent will do the same. Economic man is not a status-seeker. |
SCIMA