标题： 与“琼斯家”保持同步：基于社会比较的参考依赖选择 显示英文标题

标题： Keeping up with "The Joneses": reference dependent choice with social comparisons

摘要： 与“琼斯家”保持同步很重要。 本文研究了一个参考点由社会比较决定的参考依赖选择模型。 即使只有少数代理人，社会比较的强度增加也会导致所有人消费增加而福利减少。 引人注目的是，更高的消费边际成本可能会提高福利。 在劳动力市场中，与同事的社会比较会产生一种“小池塘的大鱼”效应，导致劳动力市场排序不完全。 此外，是那些社会网络最弱的熟练工人被诱导放弃收入以成为“小池塘的大鱼”。 显示英文摘要

摘要： Keeping up with "The Joneses" matters. This paper examines a model of reference dependent choice where reference points are determined by social comparisons. An increase in the strength of social comparisons, even by only a few agents, increases consumption and decreases welfare for everyone. Strikingly, a higher marginal cost of consumption can increase welfare. In a labour market, social comparisons with co-workers create a big fish in a small pond effect, inducing incomplete labour market sorting. Further, it is the skilled workers with the weakest social networks who are induced to give up income to become the big fish.