As an example, someone might look at a T-shirt which costs £20 which might be part of their wardrobe for several years. And they might think, well that's a bit steep.

But, conversely they might go out, buy a few pints £5 each (London prices) go to a club with a £5 entry fee. And by the end of the night spent £20 or more. Or alternatively spend £15 on a cinema ticket and popcorn while being very annoyed if their shopping budget goes over £15.

Clearly the economic thing to do would be to spend less on entertainment and more on essential items.

One might imagine that someone would factor in meeting the partner of their dreams into the budget which might put more value on the entertainment budget. But I would say that even factoring this in the entertainment seems grossly over valued.

Psychologically speaking, why do we accept such a high price for entertainment? Is the value appropriate or is the brain over-valuing it?

(BTW This is an example from a particular socio-economic group. Obviously the billionaires would spend much more on both clothes and entertainment.)

  • 1
    $\begingroup$ As you know from past comments we work differently to most SE sites, where we have a strict policy that all questions should show evidence of prior research. Please help us to help you and edit your question to provide more information on what you have read on this subject, what made you ask this question, and any problems you are having understanding your research. If you found nothing, what did you Google? This helps to provide an answer which will be more helpful. If you still have trouble with this, please visit the How to Ask page or Psychology & Neuroscience Meta. $\endgroup$ – Chris Rogers Dec 1 at 11:59