How does the framing of a product or service (e.g., as "budget-friendly" vs. "low-quality") affect its perception as an inferior good?

What is an inferior good. An inferior good is a good whose demand decreases when consumer income rises. This means that if a person suddenly has more money to ... There are many examples of inferior goods, including cheap cars, public transit options, payday lending, and inexpensive food. The shift in consumer demand for ... Jun 20, 2023 ... theory in order to overturn the proposition that Giffen good implies inferior good. Wine is consumed in social settings. Could consumption ... First, we find evidence that bus travel is indeed an inferior good and declines in importance the richer a city is. Second, the German market provides a setting ... Sep 11, 2022 ... Inferior goods are those goods the demand for which decreases with an increase in the consumer's income…For example the demand for inferior ... Estimates of the price-elasticity of cigarette demand continue to attract a great deal of attention because of their relevance to the role of excise taxes in ... Apr 30, 2015 ... People commonly assume (or assert) that public transport is an “inferior good“, or something that people consume less of as their incomes increase. Inferior goods usually have more appealing substitutes, which consumers will switch to following a rise in income. For example, clothes from a thrift store and ... Jun 10, 2011 ... Or to put this in econo-jargon: Are kids normal or inferior goods? (Reminder: When you get rich you buy more of a “normal good,” and less of an ... Consumers chose between options that paired either an objectively inferior good with high relative standing (Your laptop is rated 60/100 in quality; others ...