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marcusmarcusrcIn honor of the marathon, I have a question about sneakers (but which can be expanded to a more general economic discussion)
How does one appropriately purchase a high-quality object when:
a) It isn't always obvious how well it fits in the store (this is perhaps more true of hiking boots than sneakers, but in either case, it will feel different after the breaking-in period than it does when you first try it)
a2) and it isn't obvious how durable it is from appearances
b) Styles change more frequently than you purchase the object (so by the time you figure out you've bought the perfect sneaker, it is two generations obsolete and you can't buy another of the same type)
c) It is very individualized so word-of-mouth is somewhat limited (eg, your friend with narrow feet may love one brand, but it really won't make sense for you with wide feet. Or high arches. Or long toes. Or...)
d) It is a fairly small purchase, so not worth in-depth Consumer Reports research or whatever.
I was wondering this because I needed some sneakers, and found some on sale that were _very_ inexpensive, and seem to fit just fine. But they were so cheap I can't believe that they can really be good quality. And so I'll probably buy myself another more expensive pair if I decide I want to do any real long distance running, because I don't want to take a chance damaging my knees any more than I did by running in year old sneakers a couple summers ago.
But it seems stupid to want something just because it is more expensive. Yes, I know Veblen goods are part of standard economic theory. I could also go by brand names. Economists theorize that companies that spend a lot of money on advertising are signaling that they believe enough in their brand that they are willing to waste money on it. Some economists claim that expensive liberal arts degrees are a similar signaling mechanism. But I'm not convinced.
How does one appropriately purchase a high-quality object when:
a) It isn't always obvious how well it fits in the store (this is perhaps more true of hiking boots than sneakers, but in either case, it will feel different after the breaking-in period than it does when you first try it)
a2) and it isn't obvious how durable it is from appearances
b) Styles change more frequently than you purchase the object (so by the time you figure out you've bought the perfect sneaker, it is two generations obsolete and you can't buy another of the same type)
c) It is very individualized so word-of-mouth is somewhat limited (eg, your friend with narrow feet may love one brand, but it really won't make sense for you with wide feet. Or high arches. Or long toes. Or...)
d) It is a fairly small purchase, so not worth in-depth Consumer Reports research or whatever.
I was wondering this because I needed some sneakers, and found some on sale that were _very_ inexpensive, and seem to fit just fine. But they were so cheap I can't believe that they can really be good quality. And so I'll probably buy myself another more expensive pair if I decide I want to do any real long distance running, because I don't want to take a chance damaging my knees any more than I did by running in year old sneakers a couple summers ago.
But it seems stupid to want something just because it is more expensive. Yes, I know Veblen goods are part of standard economic theory. I could also go by brand names. Economists theorize that companies that spend a lot of money on advertising are signaling that they believe enough in their brand that they are willing to waste money on it. Some economists claim that expensive liberal arts degrees are a similar signaling mechanism. But I'm not convinced.
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Date: 2006-04-17 05:54 pm (UTC)no subject
Date: 2006-04-18 05:25 pm (UTC)no subject
Date: 2006-04-18 05:25 pm (UTC)no subject
Date: 2006-04-18 08:19 pm (UTC)