With Saudi Arabia's tendency to implement a policy of economic openness to the world from the early 1980s, the phenomenon of conspicuous consumption (society of consumption and imitation) has increased. Due to the adoption of the concepts of economic globalization, changing consumption patterns,...

The intersection of recent advancements in generative artificial intelligence and blockchain technology has propelled digital art into the spotlight. Digital art pricing recognizes that owners derive utility beyond the artwork's inherent value. We incorporate the consumption utility associated...

The extant literature on status-signalling primarily adopts Veblen's theory of class to caste and racial identities. This study aims to adopt a more suitable theoretical lens that is more relevant not only for class identities, but also for other identities such as caste and race. By viewing...

We document a significant effect of visible inequality on household spending in the United States from 2010 to 2018, but we do not find a comparable effect before the Great Recession. Our proposed definition of visible inequality refers to differences across households in their expenditures on...

Conspicuous consumption, specialised consumption of high visibility but without apparent economic benefit, is reducing investment in productive assets and thus hindering economic development in low-income countries. In previous research, the phenomenon was commonly explained by status-seeking...

We document a significant effect of visible inequality on household spending in the United States from 2010 to 2018, but we do not find a comparable effect before the Great Recession. Our proposed definition of visible inequality refers to differences across households in their expenditures on...

This paper studies whether the interplay of social comparisons in housing and rising income inequality contributed to the household debt boom in the US between 1980 and 2007. We develop a tractable macroeconomic model with general social comparisons in housing to show that changes in the...

Whereas the environmental impact of buying luxury goods is debated, there is evidence that purchasing such products-often referred to as conspicuous consumption-can be more sustainable than hoarding cheaper alternatives because luxury goods are more durable and are often passed down through...

The intersection of recent advancements in generative artificial intelligence and blockchain technology has propelled digital art into the spotlight. Digital art pricing recognizes that owners derive utility beyond the artwork's inherent value. We incorporate the consumption utility associated...

The extant literature on status-signalling primarily adopts Veblen's theory of class to caste and racial identities. This study aims to adopt a more suitable theoretical lens that is more relevant not only for class identities, but also for other identities such as caste and race. By viewing...

Materialism is a prevalent phenomenon in contemporary society and exerts a substantial influence on consumer behavior. Materialistic individuals prioritize their life goals, success criteria, and sources of happiness through the accumulation of wealth, often exhibiting a proclivity towards...

Materialism is a prevalent phenomenon in contemporary society and exerts a substantial influence on consumer behavior. Materialistic individuals prioritize their life goals, success criteria, and sources of happiness through the accumulation of wealth, often exhibiting a proclivity towards...

I study the nature of the third-degree price discrimination by exploiting the removal of gender-based price discount by movie complex firms in Japanese exhibition market. In contrast to the extant literature which typically assumes that the price-discriminated markets are perfectly segmented,...