Keeping up with the Joneses: from conspicuous consumption to conspicuous leisure?
Li Huang, He-ling Shi
OXFORD ECONOMIC PAPERS-NEW SERIES | OXFORD UNIV PRESS | Published : 2015
A number of empirical studies have investigated the influence of a desire to emulate the rich on individuals' allocation of time, most of which suggest that more work hours rather than leisure time are likely to be induced when relative status is the concern. However, the results in this article suggest that this is not true in Australia. We examine the effect of inequality on work hours in Australia over the period 1995-2011 and find that greater income inequality is associated with fewer work hours, indicating stronger concern for conspicuous leisure than conspicuous consumption.