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Lower-income consumers who seek to increase their perceived social status or to emulate their wealthier peers may be … more expensive vehicles than they otherwise would. The preferences for prestige are driven both by status signaling and … peer emulation motives. Furthermore, we show that larger vehicle purchases financed by auto loans lead to worse loan …
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in the literature and variables specifically related to emulation, income level, income distribution and urbanization …
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Purpose – The purpose of this essay is to argue that, for Veblen, the contribution of advertising to mature business enterprise was crucial. Although Thorstein Veblen’s Theory of the Leisure Class is widely credited with introducing the concept of “conspicuous consumption”, that book is...
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