A Literature Review for the Influence of Hierarchical Identity on Symbolic Consumption

Abstract

Consumption is an important part of economic development, and households’ cognition and emphasis on the social hierarchy affect the total amount, types and styles of consumption significantly. This paper summarizes the social significance of commodities, the development of social hierarchy with the corresponding psychology of consumption, and the cause and purpose of individual's conspicuous consumption. This paper highlights the importance of the relationship between social hierarchy and households’ consumption, and provides a useful reference for understanding consumers' psychology.