Owning an iPhone is the best indicator of wealth, claims research

Just by looking at her with an iPad tells you there's a good chance she's well off

That's one of the takeaways from a new National Bureau of Economic Research working paper from University of Chicago economists Marianne Bertrand and Emir Kamenica.

The paper explains that owning an iPhone gives the researchers a 69.1 percent chance of correctly inferring that the owner was so-called "high-income". The economists inferred demographics based on people's media consumption and consumer behavior and found that "no individual brand is as predictive of being high-income as owning an Apple iPhone".

With (worrying) reports out of the U.S. that people who shop online using an Apple device can be charged a premium as much as 25 per cent due to the perception Apple fans are less price sensitive comes a new study that suggests that iPhone users are, indeed, richer than their Android-using counterparts. You could tool around town in an expensive vehicle, wear some fancy duds, live in a giant mansion, or carry an Apple iPhone. Owning an Android phone in the United States of America or using Verizon are also signs that you're in the high-income bracket.

For 2016, other significant indicators of wealth include subscribing to Verizon at 61 percent and owning a generic Android phone at 59.5 percent. In 2004, Land O'Lakes butter and Kikkoman soy sauce were indicators of high-income households. For instance, in 1992, there was a 62.2% chance that if you were using Grey Poupon dijon mustard, you had some cash.

Google's summer sale offers decent discounts on Pixel 2 XL, Home speakers
A similar deal can be had with the Google Max speaker-add two of them to your shopping cart and Google ring up a $150 discount. After the Pixel 2 XL , the most noteworthy deal is on the Google Home Max , the best-sounding smart speaker you can buy .

The paper also reveals iPhone owners are likely to give the impression of being educated.

The smartphone, in the modern world, is as much a necessity now as condiments in the early 1990s were, the data suggests. Since the data is from two years ago, it doesn't even take into account last year's $999 iPhone X.

Word to the wise, however: the monetary value of smartphones typically diminish quickly because phone makers, Apple included, have a rapid release cycle for new models. In 2004 (some three years before the launch of the smartphone), status symbols included owning your own auto or home computer. In 1992, it was owning an automatic dishwasher at 71.4 percent and using dishwater detergent at 70.2 percent.

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