Please use this identifier to cite or link to this item:
Title: Attitude choice, economic change, and welfare
Authors: Ng, Y.-K.
Wang, J. 
Keywords: Aspiration
Economic growth
Issue Date: 2001
Citation: Ng, Y.-K., Wang, J. (2001). Attitude choice, economic change, and welfare. Journal of Economic Behavior and Organization 45 (3) : 279-291. ScholarBank@NUS Repository.
Abstract: As supported by commonsense and substantial evidence (discussed in Sections 1 and 2), one's attitude toward wealth may affect utility and people can, at least to some extent and at some costs, choose their attitudes. Using a very simple model of attitude choice (Section 3) and analysing the comparative-static effects of some economic changes (Section 4), this paper shows that individuals with high/low incomes tend to adopt an attitude emphasizing the importance of material consumption more/less. Economic growth unambiguously increases the utility of the rich (unless the generation of growth itself is too costly) by increasing both their income and the prevailing materialistic attitude. It has an ambiguous effect on the poor as it makes them better off through a higher income level, but worse off through a higher prevailing materialistic attitude. © 2001 Elsevier Science B.V.
Source Title: Journal of Economic Behavior and Organization
ISSN: 01672681
DOI: 10.1016/S0167-2681(01)00146-9
Appears in Collections:Staff Publications

Show full item record
Files in This Item:
There are no files associated with this item.

Google ScholarTM



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.