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Fergus_Mackinnon comments on A signaling theory of class x politics interaction - Less Wrong
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I can cite myself as an example. When I was a teenager working in a lowly McJob I was proud to earn $.25 more than many of my co-workers. When I'd heard the minimum wage was being raised from $4.25 to $5.15 I was a bit resentful that everyone was going to earn the same, even though it also meant I would earn more. It seems to me though that last place aversion explains this just as well as the signalling explanation.
The two don't have to be mutually exclusive, although finding the share of responsibility might be difficult.