ECONOMICS OF LUXURY – WHO BUYS LUXURY GOODS?

• Authors: Rod Aleš , Jonáš Rais , Jiří Schwarz
• Languages of publication: EN

Abstracts

EN

This paper provides an analysis of economics of luxury, more specifically of consumption behaviour focusing on buying luxury goods and their counterfeits. We employ data from own omnibus research in the Czech Republic in a discrete choice model with binary dependent variables and so determine a probability of certain action. Our results imply that people who buy luxury goods could be taken (and are taken) as role models for both supply and demand sides on the market with counterfeits. The data also implies that consumers, who buy luxury goods, buy fake goods as well.

Keywords

EN

ECONOMICS OF LUXURY; CONSUMPTION; LUXURY GOODS; COUNTERFEIT GOODS; CZECH REPUBLIC

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2015
• Volume: 63
• Issue: 5
• Pages: 451 – 464

Contributors

author

Rod Aleš

• University of Economics in Prague, Faculty of Economics, Department of Economics, W. Churchill sq. 4, 130 67 Prague 3, Czech Republic

author

Jonáš Rais

author

Jiří Schwarz