Cues of wealth and the subjective perception of rich people

Abstract

AbstractThese pre-registered studies shed light on the cues that individuals use to identify rich people. In two studies (N = 598), we first developed a factor-analytical model that describes the content and the mental structure of 24 wealth cues. A third within-subject study (N = 89) then assessed the perception of rich subgroups based on this model of wealth cues. Participants evaluated the extent to which the wealth cues applied to two distinct subgroups of rich people. The results show: German and US-American participants think that one can identify rich people based on the same set of cues which can be grouped along the following dimensions: luxury consumption, expensive hobbies, spontaneous spending, greedy behavior, charismatic behavior, self-presentation, and specific possessions. However, Germans and US-Americans relied on these cues to different degrees to diagnose wealth in others. Moreover, we found evidence for subgroup-specific wealth cue profiles insofar as target individuals who acquired their wealth via internal (e.g., hard work) compared to external means (e.g., lottery winners) were evaluated differently on these wealth cues, presumably because of their perceived differences in valence and competence. Together, this research provides new insights in the cognitive representation of the latent construct of wealth. Practical implications for research on the perception of affluence, and implications for political decision makers, are discussed in the last section.