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Who likes bling? The answer relates to social status

A desire for expensive, high-status goods is related to feelings of social status -- which helps explain why minorities are often attracted to bling, a new study suggests. Previous research had shown that racial minorities spend a larger portion of their incomes than do whites on conspicuous consumption -- buying products that suggest high status. But a new study showed that whites could be induced to crave expensive, high-status products if they imagined themselves in a low-status position. These findings cast doubt on the notion that urban minorities have developed a corrosive "bling culture" that is unique to them.
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