Conspicuous consumption good

From Conservapedia
This is the current revision of Conspicuous consumption good as edited by WesleyS (Talk | contribs) at 23:03, 27 December 2008. This URL is a permanent link to this version of this page.

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

A conspicuous consumption good is affected by socially-created forces, where its consumption decreases with a decrease in price. An example would be any high-end designer product where a large component of its value, lies in the "luxury factor" which is tied to price. It is hypothesized that if a consumer was able to purchase a conspicuous consumption good at a decreased price, without anyone else knowing, the conspicuous consumption effect would be negated.