The Diderot effect: French philosopher Denis Diderot went into debt replacing his furniture because his new luxury robe made

The psychology of spending

Chapter 1

The physical pain of paying

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Chapter 2

Cognitive traps in the supermarket aisle

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Answer

Chapter 3

Keeping up with the global Joneses

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Chapter 4

The emotional mind and mental accounting

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YOUR GOAL

Master of The psychology of spending

Ch 3 · Keeping up with the global Joneses

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BETA

nic Swipe away tempting deals to discover how sneaky marketing tricks trigger impulse spending.

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nic Keeping Up with the Joneses

My neighbor bought a shiny car and put it on display, Now I am going broke to live the same expensive way.

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nic Peer pressure in the digital age

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nic Social media has created a global, 24/7 window into other people's idealized lifestyles.

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nic In many Asian cultures, luxury spending is driven by the concept of maintaining social face.

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Fun Fact

The Diderot effect: French philosopher Denis Diderot went into debt replacing his furniture because his new luxury robe made his old belongings look too cheap.

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Gossip

Do social media influencers affect your purchases?

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Quiz

What is the Japanese term for decluttering and rejecting consumerism?

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nic The psychology of luxury in East Asia

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Gossip

What is the ultimate status symbol?

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Quiz

What item did Denis Diderot receive that caused him to replace all his furniture?

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nic The Diderot effect and spiral spending

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Quiz

Who coined the term 'conspicuous consumption' in his 1899 book?

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nic Conspicuous consumption and status symbols

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Quiz

Which philosopher gave his name to the effect where one purchase triggers a spiral of more purchases?

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Quiz

What percentage of millennials reported spending money they didn't have to keep up on social media?

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Quiz

According to a McKinsey report, what fraction of global luxury spending was driven by Chinese consumers?

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Quiz

What cultural concept of 'face' heavily drives luxury spending in China?

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Quiz

What does the acronym FIRE stand for in modern financial independence movements?

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