Quote:
Originally Posted by QuantumIguana
Economic models usually assume that people are rational maximizers, but paying a premium for a handbag, not because it is a better handbag, but for the name on it isn't rational.
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I am not an area (economic modeling) expert, but it seems to me that the list of "irrational" behaviours is rather long. With a very few exceptions (basic food, heating/cooling, lodging) practically everything about the consumerism is irrational. We throw out (give away) perfectly serviceable clothes when they go out of the fashion, we buy an ebook when our TBR list is already too long, and the list goes on and on and on...
The handbag might be on the extreme side, but in essence, it is impossible to criticize it without taking vow of poverty first. I am, definitely, not worthy.