Year: 1976
Type: article
Abstract: This paper brings together and integrates social interactions and the special relation between quantity and quality. We are able to show that the observed quality income elasticity would be relatively high and the quantity elasticity relatively low and sometimes negative, even if the true "unobserved� income elasticities for quantity and quality were equal and of average value. Moreover, the observed quality elasticity would fall, and the observed quantity elasticity would rise, as parental income rose.
Source: Journal of Political Economy
DOI: 10.3386/w0123
Authors: Gary S. Becker, Nigel Tomes
Institutions: University of Chicago, National Bureau of Economic Research
Language: English
Subfield: Gender Studies
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2089530081