In this paper we consider the effect of quantity restrictions and scrutiny on the consumption of quasi-free goods. A good is quasi-free if it is zero priced, but it is consumed in the context of a social setting (e.g., as an employee, client, friend, etc.). Examples include cookies at a picnic,...

This study presents a general model of conspicuous consumption in which two partly visible goods serve as a signal of dual unobserved individual attributes (wealth and wisdom). In addition to a classic Veblen good, a more sophisticated cultural conspicuous-consumption good is introduced. Agents'...