SOCIAL-STATUS AND ECONOMIC-PERFORMANCE - A SURVEY

This survey combines ideas and results from sociology and economics, r ecognizing that economic decisions are often shaped by social concerns and influences. Based on the sociological literature, we define socia l status and describe its measurement. We then describe the role of so cial status in economic analysis of saving and consumption, wages, and economic growth. We review recent work on status determination in equ ilibrium, including evolutionary models. We conclude with some remarks on the need for further interaction between sociology and economics. (C) 1998 Elsevier Science B.V. All rights reserved.