Tyler Cowen at Marginal Revolution links to research on the changing mix of products (i.e, why we used to be satisfied with Levis, Lees, Sears and Monkey Wards jeans, but we no longer are). To summarize a summary, if you've got lots of money you're willing to spend more for "quality", you aren't price conscious. Go back to Veblen for the explanation of what "quality" mean (hint--it's not Consumer Reports quality).
[Just thought--this is a rather negative note upon which to end the year, but I won't guarantee to post again. So happy new year to anyone reading this.]
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