Photo: #A employee holds a 129,000.00 USD crocodile Hermes Birkin Bag for the press to see during a private opening for the new Hermes store on Wall Street in New York 21 June 2007.
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A employee holds a 129,000.00 USD crocodile Hermes Birkin Bag for the press to see during a private opening for the new Hermes store on Wall Street in New York 21 June 2007. (TIMOTHY A. CLARY/AFP/Getty Images)

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Behind the urge to buy

Broadcast: Midmorning, 04/22/2008, 10:06 a.m.

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Overall, the frugal outnumber the spenders according to recent research. That's not true of people aged 21 - 30, who are spending beyond their means. Midmorning examines the research and the mindset behind the trend to spend.

Guests

  • Scott Rick: is an author of the study "Tightwads and Spendthrifts." He is a professor in the department of operations and information Management at The Wharton School at the University of Pennsylvania.
  • Larry Compeau: professor of Marketing Clarkson University School of Business.

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