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State-variable public goods and social comparisons
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
Göteborgs universitet.
2014 (English)In: Journal of Environmental Economics and Management, ISSN 0095-0696, E-ISSN 1096-0449, Vol. 68, no 2, p. 390-410Article in journal (Refereed) Published
Abstract [en]

The optimal provision of a state-variable public good, where the global climate is the prime example, is analyzed in a model where people care about their relative consumption. We consider both keeping-up-with-the-Joneses preferences (where people compare their own current consumption with others’ current consumption) and catching-up-with-the-Joneses preferences (where people compare their own current consumption with others’ past consumption) in an economy with two productivity types, overlapping generations, and optimal nonlinear income taxation. The extent to which the conventional rules for provision of state-variable public goods (a dynamic analog of the Samuelson rules) ought to be modified is shown to clearly depend on the strength of the relative concerns of both kinds, but also on the preference elicitation format.

Place, publisher, year, edition, pages
Elsevier, 2014. Vol. 68, no 2, p. 390-410
Keywords [en]
state-variable public goods, asymmetric information, relative consumption, status, positional preferences, climate policy
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-92076DOI: 10.1016/j.jeem.2014.07.001ISI: 000344208000011Scopus ID: 2-s2.0-84930361693OAI: oai:DiVA.org:umu-92076DiVA, id: diva2:739504
Available from: 2014-08-21 Created: 2014-08-21 Last updated: 2023-03-24Bibliographically approved

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Aronsson, Thomas

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf