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Status and the Demand for Visible Goods: Experimental Evidence on Conspicuous Consumption

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  • Clingingsmith, David

    (Case Western Reserve University)

  • Sheremeta, Roman M

    (Case Western Reserve University)

Abstract

Some economists argue that consumption of publicly visible goods is driven by social status. Making a causal inference about this claim is difficult with observational data. We conduct an experiment in which we vary both whether a purchase of a physical product is publicly visible or kept private and whether the income used for purchase is linked to social status or randomly assigned. Making consumption choices visible leads to a large increase in demand when income is linked to status, but not otherwise. We investigate the characteristics that mediate this effect and estimate its impact on welfare

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  • Clingingsmith, David & Sheremeta, Roman M, 2017. "Status and the Demand for Visible Goods: Experimental Evidence on Conspicuous Consumption," SocArXiv vjz2q_v1, Center for Open Science.
    • Handle: RePEc:osf:socarx:vjz2q_v1
    DOI: 10.31219/osf.io/vjz2q_v1
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