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True but there is more. To go deeper on this you can check Signalling Theory.

Spent, Geoffrey Millers' book is a fantastically good reading on this subject. You would be surprised on how much that theory can explain and predict.

patricklynch · 2011-03-27 · Original thread
Great book. If you like that (or really, even if you don't), I'd also recommend "Spent: Sex, Evolution, and Consumer Behavior" by Geoffrey Miller.

It goes into the more general evolutionary psychology behind why anyone buys anything. I particularly enjoyed his early anecdote about what early humans would think if you tried to explain to them our concepts of 'money' and 'shopping'.

*Caveat: I haven't read many other books about consumer behavior, so I can't say how good this is relatively speaking.

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