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Luxi Shen
Consumption Portfolio Management: Very Good Stuff Is Best Enjoyed by Itself

What is the best approach to enjoying a box of fresh strawberries or a rare bottle of whiskey? While extant research studies consumption preferences for either one or multiple items, we examine when people prefer to expand their current consumption portfolio from one item to multiple items. In a series of lab and field studies, we observe a distinct preference for consuming items of very high utility (e.g., very high quality or very rare) on their own as people believe adding other items would lower the total utility of the consumption portfolio. This belief is generally held by both buyers and sellers, but it occurs only to the top tier products—the very good stuff.

Apr 23, 2021 03:00 PM in Singapore

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