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The Influence Premium of Monetary Rank

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Martinangeli,  Andrea F. M.
Public Economics, MPI for Tax Law and Public Finance, Max Planck Society;

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Meiske,  Biljana
Public Economics, MPI for Tax Law and Public Finance, Max Planck Society;

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Citation

Martinangeli, A. F. M., & Meiske, B. (2022). The Influence Premium of Monetary Rank. Working Paper of the Max Planck Institute for Tax Law and Public Finance, No. 2022-08. doi:10.2139/ssrn.4136129.


Cite as: https://hdl.handle.net/21.11116/0000-000F-3B06-9
Abstract
The transmission of adaptively valuable behaviours requires successful individuals to exert greater influence on others’ actions. Hierarchical social organisations ease the recognition of successful, higher ranked individuals in a group, and hence facilitate this process. We investigate whether purely monetary rank, defined exclusively in terms of the amount of resources held by an individual, is capable, in isolation of any other intervening mechanism, to grant greater influence over others’ choices. Among a representative sample of the German population, we find that high monetary rank grants individuals greater influence over others’ actions.