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Conspicuous consumption, conspicuous health, and optimal taxation
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Mujcic, Redzo and Frijters, Paul (2015) Conspicuous consumption, conspicuous health, and optimal taxation. Journal of Economic Behavior & Organization, 111 . pp. 59-70. doi:10.1016/j.jebo.2014.12.017 ISSN 0167-2681.
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Official URL: https://doi.org/10.1016/j.jebo.2014.12.017
Abstract
We present a simple model of status-seeking over multiple socioeconomic domains by introducing the concept of conspicuous health as an argument in the utility function, in addition to the well-established conspicuous consumption term. We explore the implications of such a utility function for optimal non-linear taxation, where an increase in concerns for conspicuous health has an opposite effect on the marginal tax rate, compared to an increase in concerns for conspicuous consumption. Using life satisfaction panel data from Australia, along with an improved measure of exogenous reference groups (that accounts for the ‘time era’ of respondents), we find empirical evidence of a comparison health effect.
| Item Type: | Journal Article | ||||||
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| Subjects: | H Social Sciences > HJ Public Finance | ||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Taxation -- Rates and tables, Well-being | ||||||
| Journal or Publication Title: | Journal of Economic Behavior & Organization | ||||||
| Publisher: | Elsevier BV * North-Holland | ||||||
| ISSN: | 0167-2681 | ||||||
| Official Date: | March 2015 | ||||||
| Dates: |
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| Volume: | 111 | ||||||
| Page Range: | pp. 59-70 | ||||||
| DOI: | 10.1016/j.jebo.2014.12.017 | ||||||
| Status: | Peer Reviewed | ||||||
| Publication Status: | Published | ||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||
| Date of first compliant deposit: | 14 February 2019 | ||||||
| Date of first compliant Open Access: | 18 February 2019 |
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