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Conspicuous consumption and satisfaction


Winkelmann, Rainer (2012). Conspicuous consumption and satisfaction. Journal of Economic Psychology, 33(1):183-191.

Abstract

Traditional tools of welfare economics identify the envy-related welfare loss from conspicuous
consumption only under very strong assumptions. Measured income and life satisfaction offers an
alternative for estimating such consumption externalities. The approach is developed in the context
of luxury car consumption (Ferraris and Porsches) in Switzerland. Results from household panel
data and fixed effects panel regressions suggest that the prevalence of luxury cars in the
municipality of residence has a negative impact on own income satisfaction.

Abstract

Traditional tools of welfare economics identify the envy-related welfare loss from conspicuous
consumption only under very strong assumptions. Measured income and life satisfaction offers an
alternative for estimating such consumption externalities. The approach is developed in the context
of luxury car consumption (Ferraris and Porsches) in Switzerland. Results from household panel
data and fixed effects panel regressions suggest that the prevalence of luxury cars in the
municipality of residence has a negative impact on own income satisfaction.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Language:English
Date:February 2012
Deposited On:18 Jan 2012 13:53
Last Modified:05 Apr 2016 15:25
Publisher:Elsevier
ISSN:0167-4870
Publisher DOI:https://doi.org/10.1016/j.joep.2011.08.013

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