Sunday, 18 November, 2018


IPhone Is The Most Common Symbol Of Wealth, Shows New Research

IPhone Is The Most Common Symbol Of Wealth, Shows New Research IPhone Is The Most Common Symbol Of Wealth, Shows New Research
Melba Vasquez | 13 July, 2018, 00:11

That's according to new research published recently by the National Bureau of Economic Research in the U.S., which worked with the University of Chicago to discover how our lifestyle relates to our income.

Economists at the University of Chicago recently published a paper (PDF) with the National Bureau of Economic Research that examined the best indicators of wealth over the last few decades. Matter of fact, the researchers found that a person owning an iPhone gave them a 69.1% chance to correctly infer that the owner of the device had a "high-income", which they defined as being in the top quartile of income.

While the actual report isn't what you would call a page turner, it does say that based on 2016 data, no other brand is as "predictive" of having a high income as the Apple iPhone is.

New research coming from the United States has found some concrete evidence regarding the direct relationship between wealth and iPhone ownership: iPhone owners, most of the time, are rich. The most recent data was taken in 2016. In 2004, that was true if you wee a Land O' Lakes Regular user.

Aside from products, the economists, whose findings were earlier reported on by Business Insider, found that if traveling in the USA, owning a passport, and having Bluetooth in your auto were also high on the list of high-income indicators.

Interestingly, in 1992, using Grey Poupon Dijon mustard was 62.2 percent indicative of having a higher income.

IF YOU are one of the millions of Aussies who own an iPhone, congratulations - you're officially wealthy.

Word to the wise, however: the monetary value of smartphones typically diminish quickly because phone makers, Apple included, have a rapid release cycle for new models. More than 6,000 people were surveyed to acquire the data.

If you use dishwasher detergent, you're 69.3 percent likely to be "high income", and if you use Ziploc-style plastic bags then you're 57.5 percent likely to be loaded.

The data is also a reminder of how much things have changed technologically over the years. In 2016, the top entries were owning a vehicle with Bluetooth; ordering an item on the internet, and ordering a plane ticket on the internet.

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