Aspirations and Inequality
---- Acknowledgements ----
Thanks to Luís Felipe López-Calva, Joan Esteban, Kalle Moene, Alois Stutzer, Jean Tirole and four anonymous referees, as well as seminar participants at Cambridge, ColMex, EIEF, LAMES 2008, Maryland, Oxford, Washington University in St. Louis, Toulouse, Berlin, ThReD conferences at LSE and Brussels, the World Bank (DECRG and Conference on Aspirations, Poverty and Inequality), and the 2016 Laffont Lecture of the Econometric Society. Ray thanks the Einaudi Institute for Economics and Finance for its hospitality. Ray’s research was funded by the National Science Foundation under grants SES-1261560 and SES-1629370. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.