Conspicuous Consumption and Sophisticated Thinking

@article{Amaldoss2005ConspicuousCA,
  title={Conspicuous Consumption and Sophisticated Thinking},
  author={Wilfred Amaldoss and Sanjay Jain},
  journal={Management Science},
  year={2005},
  volume={51},
  pages={1449-1466}
}
Consumers purchase conspicuous goods to satisfy not only material needs but also social needs such as prestige. In an attempt to meet these social needs, producers of conspicuous goods like cars, perfumes, and watches, highlight the exclusivity of their products. In this paper, we propose a monopoly model of conspicuous consumption using the rational expectations framework, and then examine how purchase decisions are affected by the desire for exclusivity and conformity. We show that snobs can… CONTINUE READING

Citations

Publications citing this paper.
SHOWING 1-10 OF 88 CITATIONS

Sellouts, Beliefs, and Bandwagon Behavior

VIEW 6 EXCERPTS
CITES BACKGROUND
HIGHLY INFLUENCED

Inconspicuous Conspicuous Consumption

VIEW 6 EXCERPTS
CITES BACKGROUND
HIGHLY INFLUENCED

FILTER CITATIONS BY YEAR

2006
2019

CITATION STATISTICS

  • 21 Highly Influenced Citations

  • Averaged 6 Citations per year from 2017 through 2019

References

Publications referenced by this paper.
SHOWING 1-10 OF 45 REFERENCES

David vs

W. Amaldoss, S. Jain.
  • Goliath: An analysis of asymmetric mixed strategy games and experimental evidence. Management Sci. 48(8) 972–991.
  • 2002
VIEW 5 EXCERPTS
HIGHLY INFLUENTIAL

A note on restaurant pricing and other examples of social influences on price

G. Becker
  • J. Political Econom. 99(5) 1109–1116.
  • 1991
VIEW 5 EXCERPTS
HIGHLY INFLUENTIAL

An experimental study of belief learning using elicited beliefs

Y. Nyarko, A. Shotter.
  • Econometrica 70 971–1005.
  • 2002

National hero bearing the burden of success

P. Betts
  • Financial Times (April 11) 13.
  • 2002
VIEW 1 EXCERPT

The Strategy and Tactics of Pricing

T. Nagel, R. Holden.
  • Prentice Hall, Upper Saddle River, NJ.
  • 2002