Lifestyles through Expenditures: A Case-Based Approach to Saving.
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2016
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Abstract
Treating people as cases that are proximate in a behavior space-representing lifestyles-rather than as markers of single variables has a long history in sociology. Yet, because it is difficult to find analytically tractable ways to implement this idea, this approach is rarely used. We take seriously the idea that people are whole packages, and we use household spending to identify groups who occupy similar positions in social space. Using detailed data on household consumption, we identify eight positions that are clearly similar in lifestyle. We then study how the lifestyles we identify are associated with saving, an important measure of household well-being. We find that households cluster into distinct lifestyles based on similarities and differences in consumption. These lifestyles are meaningfully related in social space and save in distinct ways that have important implications for understanding inequality and stratification.
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Keister, Lisa A, Richard Benton and James Moody (2016). Lifestyles through Expenditures: A Case-Based Approach to Saving. Sociol Sci, 3. pp. 650–684. 10.15195/v3.a28 Retrieved from https://hdl.handle.net/10161/13811.
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Lisa A. Keister
Lisa A. Keister is professor of sociology and public policy at Duke University and an affiliate of the Duke Network Analysis Center and the Duke Population Research Initiative. Her current research focuses on organization strategy, elite households, the processes that explain extremes in wealth and income inequality, and on group differences in the intergenerational transfer of assets. She has been focusing on the causes and consequences of net worth poverty recently with colleagues from the Sanford school and is currently completing two books: one on America’s wealthiest families, the one percent, and one on net worth poverty.
James Moody
James Moody is the Robert O. Keohane professor of sociology at Duke University. He has published extensively in the field of social networks, methods, and social theory. His work has focused theoretically on the network foundations of social cohesion and diffusion, with a particular emphasis on building tools and methods for understanding dynamic social networks. He has used network models to help understand school racial segregation, adolescent health, disease spread, economic development, and the development of scientific disciplines. Moody's work is funded by the National Science Foundation, the National Institutes of Health and the Robert Wood Johnson Foundation and has appeared in top social science, health and medical journals. He is winner of INSNA's (International Network for Social Network Analysis) Freeman Award for scholarly contributions to network analysis, founding director of the Duke Network Analysis Center and editor of the on-line Journal of Social Structure.
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