Posts Tagged ‘lipstick effect’

  • The lipstick effect has become the nail polish effect.

    The Recession: Quirky Indicators

    Dec 26, 12 • 356 Views • Behavioral Economics, Businesses, Demand, Supply, and Markets, Economic History, Economic Humor, Households, Macroeconomic Measurement, Thinking EconomicallyNo Comments

    People love to cite the lipstick effect. Named in 2001 by former Estée Lauder CEO Leonard Lauder, the lipstick effect just says that during hard times women enjoy more inexpensive luxuries like lipstick. But looking at this graph from The Economist, you can...