TY - JOUR
T1 - Social status and economic performance
T2 - A survey
AU - Weiss, Yoram
AU - Fershtman, Chaim
PY - 1998
Y1 - 1998
N2 - This survey combines ideas and results from sociology and economics, recognizing that economic decisions are often shaped by social concerns and influences. Based on the sociological literature, we define social status and describe its measurement. We then describe the role of social status in economic analysis of saving and consumption, wages, and economic growth. We review recent work on status determination in equilibrium, including evolutionary models. We conclude with some remarks on the need for further interaction between sociology and economics.
AB - This survey combines ideas and results from sociology and economics, recognizing that economic decisions are often shaped by social concerns and influences. Based on the sociological literature, we define social status and describe its measurement. We then describe the role of social status in economic analysis of saving and consumption, wages, and economic growth. We review recent work on status determination in equilibrium, including evolutionary models. We conclude with some remarks on the need for further interaction between sociology and economics.
KW - Growth
KW - Status
KW - Wages
KW - Wealth
UR - http://www.scopus.com/inward/record.url?scp=0001481895&partnerID=8YFLogxK
U2 - 10.1016/S0014-2921(97)00137-2
DO - 10.1016/S0014-2921(97)00137-2
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AN - SCOPUS:0001481895
SN - 0014-2921
VL - 42
SP - 801
EP - 820
JO - European Economic Review
JF - European Economic Review
IS - 3-5
ER -