Difference between revisions of "Conspicuous consumption good"
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(New 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...) |
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| − | 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]] | ||
Revision as of 03:03, December 28, 2008
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.