Economics, Econometrics and Finance
8 years ago

Unveiling the Instinctive Forces Behind Conspicuous Consumer Behavior by Veblen

EconomiA
The psychology of early institutional economics: The instinctive approach of Thorstein Veblen's conspicuous consumer theory
Felipe Almeida

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Thorstein Veblen, a pioneer in economics, looked at how our instincts and habits influence our spending behavior. While many studies focus on habits, Veblen believed instincts play a crucial role in our decisions as conspicuous consumers. By understanding the interplay between instincts, habits, and social influences, we can better grasp why we buy certain things to display our status.