Personality, Income, and Compensatory Consumption: Low-Income Extraverts Spend More on Status

  title={Personality, Income, and Compensatory Consumption: Low-Income Extraverts Spend More on Status},
  author={B. Landis and Joe J Gladstone},
  journal={Psychological Science},
  pages={1518 - 1520}
  • B. Landis, Joe J Gladstone
  • Published 2017
  • Psychology, Medicine
  • Psychological Science
  • People living on low income tend to spend a higher percentage of it on products and services perceived to have high status (Bagwell & Bernheim, 1996; Veblen, 1994). Although signaling wealth through greater consumption acts as a way for poorer groups to restore feelings of self-integrity (Sivanathan & Pettit, 2010) and personal power (Rucker & Galinsky, 2008, 2009), conspicuous consumption can also perpetuate financial hardship because it limits self-investment (Moav & Neeman, 2012… CONTINUE READING

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