When Product Markets Become Collective Traps: The Case of Social Media | BFI
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Large shares of consumers use Instagram and TikTok out of a fear of missing out rather than genuine interest and, as a result, are worse off than if...

Those findings are crazy. I’ve never been social media addicted, been into luxury or general show-off brands (I pay extra to not look like I’m an advertisement… for anything but metal bands), so I don’t really know much about those issues.

  • PeepinGoodArgs@reddthat.comEnglish
    8·
    1 year ago

    Among respondents who own luxury brands that they themselves bought (e.g., Gucci, Versace, Rolex), 44% prefer to live in a world without any of those brands altogether. Among respondents not owning such brands, the fraction preferring to live in a world without them is 69%.

    That's interesting.

    Actually, this is kinda like using fossil fuels. If we didn't have fossil fuels our lives would be miserable. And while using them adds some utility, burning fossil fuels still leaves us miserable, particularly as climate change grows worse.And so, even though I use fossil fuels to fuel my car, heat my home, and cook my food, I'd still prefer to live in a world where its significantly reduced to phased out altogether.

    • SnowBunting@lemmy.ml
      2·
      1 year ago

      Yep, this is why my family has been phasing gas using products out of our home. One being the electric stove and water heater. It's nice to know that some of the electricity is solar now too.