Education as a Positional Good
Posted in Behavior, Education, You Can't Have it Both Ways on Mar 29th, 2011
A standard argument among behavioralists is that goods that are “positional” in nature cause social welfare losses. What the heck does this mean? There are some goods whose value derives partly (or wholly) from how much you have of it relative to other people. Beauty is a positional good. Speed in a running race is […]