We demonstrate that in models where agents have concerns for status the model predictions can drastically change depending on whether status is modelled as an ordinal or cardinal magnitude. As a proof, we show that two well known theoretical findings are not robust to the substitution of ordinal status with cardinal status (Frank (1985)) and viceversa (Clark and Oswald (1998)).
Ordinal Vs Cardinal Status: Two Examples
E. BILANCINI;
2008-01-01
Abstract
We demonstrate that in models where agents have concerns for status the model predictions can drastically change depending on whether status is modelled as an ordinal or cardinal magnitude. As a proof, we show that two well known theoretical findings are not robust to the substitution of ordinal status with cardinal status (Frank (1985)) and viceversa (Clark and Oswald (1998)).File in questo prodotto:
File | Dimensione | Formato | |
---|---|---|---|
bibo-econlett3.pdf
non disponibili
Licenza:
Non specificato
Dimensione
153.04 kB
Formato
Adobe PDF
|
153.04 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.