The economics of status, institutional design and economic
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Статусна икономика, институционален дизайн и икономическа политика
The economics of status, institutional design and economic policy

Author(s): Teodor Sedlarski
Subject(s): Economy, Supranational / Global Economy, Business Economy / Management
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: JEL: D02; D04; D63; H30; Z13

Summary/Abstract: This article systemizes the newest research results in the contemporary field of the economic analysis of social status related to the formation of effective institutions and economic policies. The psychological effect of adaptation to the current consumption levels and the prevailing importance of relative to absolute wealth reveal the possibility to explain and forecast human behavior in a rationalistic economic perspective in situations that are usually studied in sociology. Taking into account the effects of the competition for status allows a more thorough and realistic analysis of the forms of socioeconomic organization, the implications of planned economic policies and the role of existing institutional structures for the subjective wellbeing of a society’s members.

  • Issue Year: 2015
  • Issue No: 4
  • Page Range: 3-22
  • Page Count: 20
  • Language: Bulgarian