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Relative status and interdependent effects in consumer behavior

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  • Gasana, Parfait U.

Abstract

The current consumer culture, which associates the meaning of life primarily through the consumption of material goods and services, has brought many transformations in U.S. society. The purpose of this study is to examine the relative status and interdependent effects associated with consumer behavior, as developed by economists Veblen, Duesenberry, Frank, and Schor. Using the 2005 Consumer Expenditure Survey, several linear regression models have been conducted on four expenditure items including clothing, entertainment, home furnishings, and automobiles. While controlling for several demographic variables, a consumer's relative expenditure ranking emerges as the strongest substantive factor in determining clothing consumption and number of automobiles owned.

Suggested Citation

  • Gasana, Parfait U., 2009. "Relative status and interdependent effects in consumer behavior," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(1), pages 52-59, January.
    • Handle: RePEc:eee:soceco:v:38:y:2009:i:1:p:52-59
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    1. Andrew E. Clark & Paul Frijters & Michael A. Shields, 2008. "Relative Income, Happiness, and Utility: An Explanation for the Easterlin Paradox and Other Puzzles," Journal of Economic Literature, American Economic Association, vol. 46(1), pages 95-144, March.
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    Cited by:

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    2. Paraskevaidis, Pavlos & Andriotis, Konstantinos, 2015. "Values of souvenirs as commodities," Tourism Management, Elsevier, vol. 48(C), pages 1-10.
    3. Ekaterina Ekaterinchuk & Jochen Jungeilges & Tatyana Ryazanova & Iryna Sushko, 2017. "Dynamics of a minimal consumer network with uni-directional influence," Journal of Evolutionary Economics, Springer, vol. 27(5), pages 831-857, November.
    4. Steven D. Silver, 2016. "A QUAIDS Model of Need-Based Structure in U.S. Personal Consumption 2006–2012," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 44(3), pages 303-323, September.

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