Institute for Empirical Research in Economics
University of Zurich
Working Paper Series
ISSN 1424-0459
Working Paper No. 53
Choosing the Joneses:
On the Endogeneity of Reference Groups
Armin Falk and Markus Knell
July 2000
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Table 1 – Answers to the question: Do you try harder if you set yourself high goals?
percent
1 = do not agree at all
2 = do rather not agree
3 = do not know
2.75
7.06
10.98
4 = rather agree
5 = totally agree
43.92
35.29
mean (std. dev.)
Numbers of observation
4.02 (.99)
255
Table 2 – Ordered Probit Estimates of Aspired Degree
on the Final University Examination†
High School Degree (ability)
Model 1
Model 2
Model 3
.737**
(.000)
.803**
(.000)
-.401**
(.006)
-.003
(.889)
-.469**
(.002)
-.110
(.614)
-.062
(.418)
.000
(.353)
.004
(.726)
255
-542.402
.000
249
-519.488
.000
.831**
(.000)
-.438**
(.003)
.003
(.898)
-.486**
(.001)
-.181
(.419)
-.086
(.272)
.000
(.321)
.002
(.805)
.014
(.783)
-.103
(.079)
.007
(.943)
.169
(.041)*
.047
(.453)
-.112
(.070)
-.026
(.686)
.047
(.390)
249
-514.611
.000
Sex
Age
Technical Department
Native
Community Size
Money Available
Working Hours
Wealthy Family Background
Well Educated Parents
Good Own Education
Ambitions
Natural Talents
Hard Work
Knowing the Right People
Political Connections
N
Log likelihood
Prob > chi2
†
Note: Significance levels using two-tailed tests: * = significant at the 5-percent level; ** = significant at the 1percent level; Sex: 1=female, 0=male; Technical Department: 1=yes, 0=no; Native: 1=swiss, 0=not Swiss;
Community size1=up to 2.000 inhabitants, 2=2.000 to 10'000 inhabitants, 3=10.000 to 100.000 inhabitants,
4=more than 100.000 inhabitants; Money available: Money for living net rent (monthly); Working hours: Hours
worked net hours for study (weekly); The additional variables in model 3 are taken from the GSSB-survey. The
question was: “Please indicate for all following reasons, how important they are for getting ahead.” Answers are
coded in the following way: 1=not at all important, 2=not very important, 3=don’t know, 4=important, 5=pretty
important, 6=very important. In model 2 and 3 the number of observations is smaller due to missing answers.
Table 3 – Happiness and Social Perception
Country
HAPPY
MEANSSC
OVER
UNDER
(scale 1-4)
(scale 1-10)
(percent)
(percent)
Australia
Austria
Bulgaria
Canada
Czechoslovakia (former)
Germany-East (former)
Germany-West (former)
Hungary
Italy
New Zealand
Norway
Philippines
Poland
Russia
Slovenia
Sweden
United Kingdom
United States
3.30
3.20
2.33
3.05
2.69
2.96
3.04
2.72
2.98
3.18
3.23
3.08
2.97
2.53
2.62
3.36
3.28
3.28
5.88
5.77
3.84
5.83
4.69
4.71
5.72
3.92
4.93
5.99
5.85
4.36
4.32
4.40
4.77
5.70
5.34
5.54
42.78
44.48
36.23
51.77
41.51
47.74
30.24
35.83
39.03
56.90
50.63
46.72
23.39
26.80
29.12
66.42
62.64
60.86
30.71
39.26
55.74
48.99
Correlation with
1.00
0.79
0.61
-0.69
1.00
(0.00)
0.71***
(0.001)
0.66**
(0.028)
-0.69**
(0.019)
HAPPY
Spearman’s rho
with HAPPY
Source: See Appendix B.
Figure 1 – The Reference Standard Dependent on the Ability Level
reference standard r i
120
100
80
60
40
20
0
50
100
150
abilities
q=0
q = 0.3
q = 0.5
q = 0.8
q=1
Parameterization:α = 0.5, β = 0.5, δ = 0.5, θ = 0.5, γ = 0.8, a = 100
Figure 2 – Subjective vs. Objective Social Class
Subjective vs. Objective Class - United
States
Subjective vs. Objective Class - Total
Sample (5 countries)
7
6.5
6.06
6
5.56
5.5
5.31
5.22
5.14
5
5.73
5.58
4.92
4.5
4.47
y = 0.185x + 4.4313
R 2 = 0.944
4
3.5
1
2
3
4
5
6
7
8
9
Average Subjective Class
Average Subjective Class
7
6.5
6.69
6.5
6
5.99
5.5
5
4.79
5.37
5.43
5.22
4.74
4.5
y = 0.1687x + 4.5593
R2 = 0.8133
4
3.5
1
10
2
3
4
5
6
7
8
9
10
Decile
Decile
Subjective vs. Objective Class - Germany
Subjective vs. Objective Class - Austria
7
7
6.5
6.51
6.27
6
5.5
5.49
5.41
5.33
5.67
5.81
5.68
5.62
5
4.66
4.5
y = 0.1553x + 4.7907
R2 = 0.859
4
Average Subjective Class
Average Subjective Class
5.68
5.57
5.39
3.5
1
2
3
4
5
6
7
8
9
6.59
6.5
6.05
6
5.77
5.5
5.93
5.77
5.85
5.98
5.45
5.1
5
4.7
4.5
y = 0.1572x + 4.8547
R2 =0.8159
4
3.5
1
10
2
3
4
5
6
7
8
9
10
Decile
Decile
Subjective vs. Objective Class - Italy
Subjective vs. Objective Class - United
Kingdom
7
6.5
6
5.92
5.63
5.5
5.27
5.14
5
5.12
4.82
4.5
4.34
4.21
4
y = 0.2162x + 3.6731
2
R = 0.9518
3.85
Average Subjective Class
Average Subjective Class
7
6.58
6.5
6.18
6.06
6
5.5
5.51
5.19
5
5.01
4.5
5.15
4.52
y = 0.28x + 3.698
R2 = 0.9563
4
3.92
3.5
3.5
1
2
3
4
5
6
Decile
7
8
9
10
1
2
3
4
5
6
7
8
9
10
Decile
Source: See Appendix B. The straight lines are regression lines, which were estimated by OLS.
Figure 3 – Subjective vs. Objective Perception of Income
Total Sample (5 countries)
10
9
Average Values
8
7
6
5
4
3
2
1
0
1
2
3
4
5
6
7
8
9
10
Decile
Subjective Perception
Objective Perception
Source: See Appendix B. The “Subjective Perception” curve is the same as appears in the
upper left panel of Figure 2, only with a different scaling.