Conspicuous Consumption and Game Theory: Difference between revisions
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===Pecuniary Emulation=== | ===Pecuniary Emulation=== | ||
Pecuniary Emulation - When a member of a lower class consumes conspicuously in an attempt to appear a member of a higher class. | |||
==Arms Race== | ==Arms Race== | ||
Revision as of 03:28, 11 April 2006
Overview
Conspicuous Consumption
Thorstein Veblen
Invidious Comparison
Invidious Comparison - When a member of a higher class practices conspicuous consumption in an attempt to separate themselves from the lower classes.
Pecuniary Emulation
Pecuniary Emulation - When a member of a lower class consumes conspicuously in an attempt to appear a member of a higher class.
