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• (author = "Luo, Y")
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The wealth distribution and the demand for status

Author(s) : Luo, Y , Young, ER
Description : Standard economic theories of asset markets assume that assets are valued entirely for the consumption streams they can finance. This paper examines the introduction of the demand for status (as a function of wealth) into a model of uninsurable idiosyncratic riskthe "spirit of capitalism" ("soc") as...
Repository : The HKU Scholars Hub , View repository documents
Language(s) : English
Subject(s) : Preference for Status , Spirit of Capitalism , Wealth Distribution
Publisher(s) : Cambridge University Press. The Journal's web site is located at http://journals.cambridge.org/action/displayJournal?jid=MDY , United Kingdom
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Publication Date(s) : 2010-09-06