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Are you keeping up with Jeremy Jones.

In economics, there is a growing body of research that suggests that many people have so-called „positional preferences“. A positional individual derives utility from their consumption relative to that of others. Let’s use an example. Suppose that you own a 5 year old car. It works reasonably well and takes you wherever you want to go. You are quite happy with it. Now suppose that you get a visit from your brother or son in law, …

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