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Why are wealthy consumers less likely to buy luxuries during a recession?

Public release date: 17-Jan-2012[ | E-mail | Share ] Contact: Mary-Ann TwistJCR@bus.wisc.edu608-255-5582University of Chicago Press Journals During an economic downturn, even people who are not directly affected spend less on goods and services that signal social status, according to a new study in the Journal of Consumer Research. “Even when their consumption budget is [...]