BETA
Chapter 1
The signal of status
Chapter 2
The art of manufactured scarcity
Chapter 3
How the brain prices luxury
Chapter 4
Global styles of luxury
YOUR GOAL
Master of The psychology of luxury
Ch 1 · The signal of status
marcus The Psychology of Luxury
We flash the labels thinking we'll make a friend, but the quiet t-shirt wins in the end
marcus Unlike normal products, some luxury items become more desirable as their prices increase.
Fun Fact
Peacocking products: The term "conspicuous consumption" was coined way back in 1899 by sociologist Thorstein Veblen.
Glossary
conspicuous consumption (noun)
The purchase of expensive goods or services to publicly display wealth and social standing. A 2018 study showed that administering testosterone to men increased their preference for prestige luxury brands.
The purchase of expensive goods or services to publicly display wealth and social standing. A 2018 study showed that administering testosterone to men increased their preference for prestige luxury brands.
Quiz
Which animal's tail is frequently compared to human luxury signaling in evolutionary biology?
Quiz
What psychological phenomenon describes buying luxury goods to fit into an admired social group?
Quiz
In standard economics, what typically happens to normal goods when their price increases?
Quiz
According to a Harvard study, how did wearing counterfeit sunglasses affect the participants' behavior?