Research on symbolic consumption and status signaling has primarily examined how consumers spend money on possessions that display their identity and status. We review research suggesting that the way in which consumers spend their time can also serve as a form of conspicuous consumption. In particular, we examine status inferences based on how consumers allocate time between work and leisure, and how consumers choose to spend their discretionary leisure time. In the past, high-status individuals displayed wealth by wasting time on unproductive leisure activities; today, long hours of work and lack of leisure time have become a status symbol. Productivity orientation and the obsession with busyness also impacts consumers' choice of leisure activities and motivates consumers to seek collectible experiences in an attempt to build their experiential CV.
Keinan, Anat, Silvia Bellezza, and Neeru Paharia. "The Symbolic Value of Time." Current Opinion in Psychology 26 (April 2019): 58-61.
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