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Conspicuous consumption good (view source)
Revision as of 13:27, December 15, 2008
, 13:27, December 15, 2008New page: 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 l...
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.
[[Category: Economics]]
[[Category: Economics]]