Which Ponds Do We Choose, and Why? The Choice of Income Reference Group and Its Consequences
Satu Metsälampi, Xiaogeng Xu, Michael Kirchler, Kaisa Kotakorpi, Peter Hans Matthews, and Topi Miettinen
Although higher status or income rank is known to generate hedonic pleasure, little is known about the search for rank information. We report an experiment eliciting rank beliefs and providing rank …
Discussion paper