ARC Ref 5se inferior to LS28?

schubert04-05-2017 12:12pm

Seen it happen a hundred times on everything from autos to audio ,watches to rings , shoes to suits .
So has everybody else who pays attention

I pay attention, schubert ... I pay plenty of attention. So I don’t know who you refer to when you reference "everybody."

I trust Thomas J. Stanley’s hard data much more than your solitary claim. But, feel free to share some of your data with all of us here and maybe I’ll take you seriously. I'd surely like to see your data about $50,000 suits and shoes!

As I said, there are many mistaken notions about wealth. Researcher Stanley admits he harbored them, too ... until he did the actual research!

Of course there are humble rich like Buffet and ego-manics who need gold plated bathrooms , so elementary it doesn't need saying .
You need not take me seriously .

"

There are not a few people that will buy something that costs 50K who would not touch exact same  item were it priced at 25K

Do you have anything that supports this claim?"

I do.  There are many examples but the most famous is the price of BMWs during the 1980s.  In the 1970s and earlier they used ot cost about the same as a Buick; but sales actually increased greatly as prices rose steeply.

I forget what this phenomenon is called ("Inverse something or other") but the BMW example is frequently cited in econ texts.

You could also read Veblin's Theory of the Leisure Class

randy-1104-05-2017 4:18pm

...  the most famous is the price of BMWs during the 1980s.  In the 1970s and earlier they used ot cost about the same as a Buick; but sales actually increased greatly as prices rose steeply.

This isn't scientific, because you have multiple variables, including the infamous decline in quality of American cars during this same period. In fact, just as the sales of BMWs went up, almost all foreign auto manufacturers gained US market share during the same period, and for the same reason.

You could also read Veblin's Theory of the Leisure Class

That's a pretty old text, but still valid. What Robert J. Stanley did was develop current data on wealth. I encourage you to read some of it. A lot changed during the 20th century.

But, we are drifting far OT here.

A pretty smart scientist said," what you can measure doesn't matter, what matters you can't measure' .
Science is as much a religion as religion is .