When Hermes combined very high prices with limited availability for its Birkin bags, it not only generated conspicuous consumption but also a problem.
After an economist long ago told us that gift giving adds less to economic activity than the price of the present, a pro-gift giving group disagreed.
Calculating the value of college involves what we spend, what we sacrifice, what we earn, and some other surprising considerations.
The average American has access to the types of consumer goods that only the wealthy used to buy. We can purchase a pricey iPhone or watch Netflix on a massive home TV screen. We eat steak, enjoy ahi tuna, and…
When parents choose a baby name, they could be conveying a message to the world that signals their politics and the child’s future profession.
Shifting from Audrey Hepburn elegance to Lady Gaga, the Tiffany brand has a new face to market its luxury image and its Veblen goods.
As a signal from parents, popular baby names can convey a quest for individuality as well as a liberal or conservative message.
Our everyday economic stories involve participation rates, human capital, signaling, ROI, money, price, austerity, personal income, monopoly and bubbles.