Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
Why Your Brain Treats Spending as a Social Signal
In episode 99 of Behavioral Economics with Fexingo, Lucas and Luna explore how your brain processes spending as a social signal—not just a transaction. They dive into the concept of conspicuous consumption, from Thorstein Veblen's 1899 'Theory of the Leisure Class' to modern examples like luxury watches and branded goods. Lucas explains the Veblen effect, where higher prices can increase demand for status items, and contrasts it with the snob effect and bandwagon effect. They discuss how social media amplifies status signaling, with references to Instagram influencers and the…
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