Social Sciences

Game theory, mechanism design, econometrics of price formation—when demand rises with price.

Reviews synthesize psychological drivers of luxury consumption, and marketing science shows status signaling shapes logo preferences.

Competitive bidding makes objects seem more valuable than they are. "Winning" becomes the reward, detached from the object's utility.

Context biases valuation: identical artworks receive different responses when labeled "gallery" versus "computer-generated." The institutional frame shapes value.

Higher-priced placebos produce stronger effects via expectation. The economics and psychology of value perception intertwine.