China’s luxury market – as seen through a behavioral economics lens

Economists do not buy luxury goods, behavioral economists do! For economists, qualities of luxury goods are SIFs (supposedly irrational factors). Why would a “homo economicus” pay more for a product just because it makes one look good among peers, gives a feeling of achievement, or has been made by an overpaid craftsman in some small … Continue reading China’s luxury market – as seen through a behavioral economics lens