Is it better to be a big frog in a small pond or a small frog in a big pond? This treatise argues that people's concerns about status permeate and profoundly alter a broad range of human behaviour. It applies these basic elements in human nature to the study of how people make economic choices.

"It is a rare combination: a book that is both profound and fun to read....It is indeed good to see something of genuine interest emerge from an economist in this era when most economists produce material that is dull, irrelevant, and incomprehensible."--James M. Buchanan, author of Calculus of Consent "An interesting and illuminating work and also much fun to read."--Amartya Sen, University of Oxford "Mr. Frank has written an intellectually challenging economics book which is also a delight to read. He starts with acute observations about how people--not equations--behave and ends with thought-provoking recommendations about economic policy. Along the way, the reader will be intrigued by a number of uncommon insights into why the economy works the way it does. This is economics as it should be."--Senator William Proxmire "Wide-ranging...written in a lively, clear, and non-technical style."--The Economic Journal "An exceptional book."--The Los Angeles Times "Overflowing with insights...already being treated as a landmark event in a tight but quickly broadening circle across a swath of fields."--The Boston Globe "A significant contribution and accomplishment. The arguments are original, carefully constructed, and balanced....This book is fun to read."--Journal of Economic Literature "A significant contribution to economics, sociology, and political thought."--The Journal of The Institute for Socioeconomic Studies "An intellectually challenging economics book which is also a delight to read....This is economics as it should be."--Senator William Proxmire