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 .
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 25KDo 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 ClassThat'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. |
randy-11 , When Mercedes came here in late 50's they couldn't give them away, sold them as same price as in Germany. Only G.I's knew them and that as German taxis . In sixties came back and sold them for over twice German price and the rest is history . Of course we all know Consumer Reports is a liberal rag who lies about how unreliable they are . |