We quantify the value of social status using secondary market prices for Delaware license plates. Delaware plates are numbered sequentially, are private property, and can be legally bequeathed or traded. In Delaware, they are a valuable source of social status. Market prices suggest a preference for lower plate numbers and there are extreme price jumps that are consistent with exclusive low-digit clubs. The aggregate value of this market indicates that people purchase status as a significant portion of their consumption bundle. Finally, social status as an asset appears to be uncorrelated with aggregate economic and market conditions.

中文翻译：

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社会地位的价值

我们使用特拉华州车牌的二级市场价格来量化社会地位的价值。特拉华州的车牌按顺序编号，属于私有财产，可以合法遗赠或交易。在特拉华州，他们是社会地位的宝贵来源。市场价格表明偏爱较低的车牌号，并且存在与独家低位俱乐部一致的极端价格上涨。该市场的总价值表明，人们购买身份是其消费束的重要组成部分。最后，作为资产的社会地位似乎与总体经济和市场状况无关。