Status psychology: symbolic value in consumption and investment choices

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Many economic decisions are guided by the desire for status. Luxury companies thrive because they sell more than products: they sell social identity. Investors also seek status by choosing "fashion" assets or exclusive investments. The strategy is to recognize this impulse and, in the case of business, to use it ethically in branding. For investors, awareness of this psychological factor helps to separate what is a desire for recognition from what is a real financial return.

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