Theory of cultural capital: Productive use of an unproductive activity

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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 languageEnglish
Pages (from-to)359-375
Number of pages17
JournalJournal of Public Economic Theory
Volume25
Issue number2
DOIs
Publication statusPublished - 2023 Apr

Bibliographical note

Publisher Copyright:
© 2022 Wiley Periodicals LLC.

ASJC Scopus subject areas

  • Sociology and Political Science
  • Finance
  • Economics and Econometrics

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