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- Title
Identity, Envy and Resource Loss.
- Authors
Mukherjee, Diganta
- Abstract
This paper looks at society divided into two groups where personal assets as well as group specific values influences the individuals' utility (positively for own group's value and possibly otherwise for the other group's value). Individual resource allocation problem may lead to under investment in production of assets and excessive diversion of resources into wasteful destructive activities. As a result, the net utility is lowered for all individuals. On the economic front, such usage of resource boosts the "black market" economy and results in dead weight loss. Because in equilibrium both the personal as well as social value created is smaller, on the social front these activities encourage social disintegration.
- Subjects
GROUP values (Sociology); SOCIETIES; VALUE engineering; SOCIAL values; BLACK market
- Publication
International Game Theory Review, 2015, Vol 17, Issue 1, p-1
- ISSN
0219-1989
- Publication type
Article
- DOI
10.1142/S0219198915400101