RE: Inferior, Normal & Luxury Goods: A Consumer's State Of Finance?
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This is a quality review, while focused on the economic perspective, it's also a good thing to look at the mental and cognitive perspective. If you notice, most obese individuals are those on high income categories. This also suggests that knowledge plays an important role people's purchasing choices.
Another important fact is attitude, people's attitude towards a commodity may also occlude their reasoning and judgement of value. However, most often than none, it starts with finance.
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Yeah thanks for pointing out the cognitive and mental perspective because these aspects are also instrumental in changing the narratives. Like you said, finance is probably the most considered aspect.
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