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A new paper from the National Bureau of Economic Research is laying claim to the iPhone being the most common status symbol of wealth. If someone owns one, there is a 69.1 percent chance that they are “high income,” say University of Chicago economists Marianne Bertrand and Emir Kamenica, who compiled the report.
The researchers describe high-income as “being in the top quartile of income for households of that type.” Owning an iPad can also be a good indicator of wealth according to the research, though to a slightly lesser extent at 66.9 percent. Owning an Android phone gives the researchers a 59.5 percent chance of correctly predicting wealth status.
The researchers describe high-income as “being in the top quartile of income for households of that type.” Owning an iPad can also be a good indicator of wealth according to the research, though to a slightly lesser extent at 66.9 percent. Owning an Android phone gives the researchers a 59.5 percent chance of correctly predicting wealth status.