George Clooney or Saddam Hussein? Why do consumers pay for celebrity possessions?
A new study in the Journal of Consumer Research sheds some light into why someone would pay $48,875 for a tape measure that had belonged to Jackie Kennedy or $3,300 for Bernie Madoff's footstool.
"Why do people pay money for celebrity possessions?" write authors George E. Newman (Yale University), Gil Diesendruck (Bar-Ilan University), and Paul Bloom (Yale University). "Celebrity items often have little functional value. And because the objects themselves tend to be relatively common artifacts (clothing, furniture, etc.) they are often physically indistinguishable from ...


