On Jan 19, 2007, at 3:48 AM, andie nachgeborenen wrote:
> People buy
> Phillipe Patek watches _because_ they cost $20K,
> likewise Rolls Royce, fancy pens, or the $2200 bottles
> of wine I saw at a restaurant recently.
The term of art is "positional goods," which derive their appeal from the fact that only a few can have them.
Doug