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Choosing Your Pond: Location Choices and Relative Income / Nicolas L. Bottan, Ricardo Perez-Truglia.
- Format:
- Book
- Author/Creator:
- Bottan, Nicolas L.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w23615.
- NBER working paper series no. w23615
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Choosing Your Pond
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- Do individuals care about their relative income? While this is a long-standing hypothesis, revealed-preference evidence remains elusive. We provide a unique test by studying residential choices: individuals often must choose between places with different income distributions, and as a result they "choose" their relative income. We conducted a field experiment with 1,080 senior medical students who participated in the National Resident Matching Program. We estimate their preferences by combining choice data, survey data on perceptions and information-provision experiments. The evidence suggests that individuals care about their relative income and that these preferences differ across single and non-single individuals.
- Notes:
- Print version record
- July 2017.
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