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VERSION:2.0
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CALSCALE:GREGORIAN
X-WR-CALNAME:Joint Public Economics\, Development & Behavioral Economics Wo
 rkshop: Gautam Rao 
X-WR-TIMEZONE:Eastern Time (US & Canada)
BEGIN:VEVENT
DTSTAMP:20261017T121625Z
UID:tag:localist.com\,2008:EventInstance_2928903
DTSTART:20170928T154000Z
DTEND:20170928T171000Z
DESCRIPTION:Gautam Rao\n\nHarvard University\n\n111 Ives Hall\n\nDownloads\
 n\n \n\nFiles: \n\n Status Goods: Experimental Evidence from Platinum Cred
 it Cards∗ Leonardo Burszty\, Bruno Ferma\, Stefano Fiorin\, Martin Kanz\
 , & Gautam Rao\n\n \n\nThis paper provides novel field-experimental evide
 nce on status goods. We work with an Indone-sian bank that markets platinu
 m credit cards to high-income customers. In a first experiment\, we show 
 that demand for the platinum card greatly exceeds demand for a nondescript
  con-trol product with identical benefits\, suggesting demand for the pur
 e status aspect of the card. Transaction data reveal that platinum cards a
 re more likely to be used in social contexts\, im-plying social image moti
 vations. Combining price variation with information on the use of the card
  sheds light on the magnitude of the demand for social status. In a second
  experiment\, we provide evidence of positional externalities from the con
 sumption of these status goods. The final experiment shows that increasin
 g self-esteem causally reduces demand for status goods. We infer that part
  of the demand for status is psychological in nature\, and that social ima
 ge is a substitute for self image.
GEO:42.447319;-76.480995
LOCATION:Ives Hall\, 111
SUMMARY:Joint Public Economics\, Development & Behavioral Economics Worksho
 p: Gautam Rao 
URL;VALUE=URI:https://events.cornell.edu/event/joint_public_economics_devel
 opment_behavioral_economics_workshop_gautam_rao
CATEGORIES:Class/ Workshop
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