Abstract
Cultural capital is the term suggested to explain the phenomena that seemingly productivity-irrelevant cultural activities may lead to better economic outcome for individuals. A simple model is proposed to explain the emergence of cultural capital. The cost of acquiring a cultural attribute plays a role in the emergence of cultural capital. The importance of cultural capital is compared between two groups distinguished by a natural attribute. The cultural capital in the economically worse-performing group is more elitist in the sense that a smaller proportion of individuals acquire it due to the higher attainment costs. Welfare implications are also investigated.
Original language | English |
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Pages (from-to) | 359-375 |
Number of pages | 17 |
Journal | Journal of Public Economic Theory |
Volume | 25 |
Issue number | 2 |
DOIs | |
Publication status | Published - 2023 Apr |
Bibliographical note
Publisher Copyright:© 2022 Wiley Periodicals LLC.
ASJC Scopus subject areas
- Sociology and Political Science
- Finance
- Economics and Econometrics