Although the sociological analysis of status markets and relative social competition provides several important insights there is still sufficient ground to enhance the understanding of those phenomena if aspects of our everyday life are examined more closely. This constitutes essentially a cultural economy inquiry with the objective of uncovering how the human aspects of everyday routines interface with star markets and relative social competition. The contemporary life with its emphasis on services and information technology is radically different than what the industrial experience was in the past. People today live their lives amidst greater expectations, more entertainment and more expression through media induced aesthetic fascination and popular culture. A key question that has to be answered is how our individual feelings associated with the formation of cultural identity that appear in the context of contemporary life interface with the rise of the phenomenon of status markets and relative social competition.
|Keywords:||Social Identity, Cultural Identity, Psychological Considerations, Status, Relative|
Assistant Professor, Department of Statistics, Actuarial Studies and Financial Mathematics, University of the Aegean, Athens, Greece
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