Changes

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.

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]]