Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/77507
Authors: 
Winkelmann, Rainer
Year of Publication: 
2011
Series/Report no.: 
Working Paper Series, Department of Economics, University of Zurich 30
Abstract: 
Traditional tools of welfare economics identify the envy-related welfare loss from conspicuous consumption only under very strong assumptions. Measured income and life satisfaction offers an alternative for estimating such consumption externalities. The approach is developed in the context of luxury car consumption (Ferraris and Porsches) in Switzerland. Results from household panel data and fixed effects panel regressions suggest that the prevalence of luxury cars in the municipality of residence has a negative impact on own income satisfaction.
Subjects: 
Ferrari
Porsche
status
consumption externality
Swiss Household Panel
JEL: 
D12
D62
I31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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