|Beautynomics - The Economics of Vanity|
|...and they say vanity isn't economical.|
Saturday, May 13, 2006
Estee Lauder Idealist Micro Deep Thermal Refinisher
Mary Kay TimeWise Microdermabrasion Kit
Nu Skin Polishing Peel ( Skin Refinisher )
( In fairness, all three have received good rave reviews! So it's up to you to choose. The most affordable I think, is the Nu Skin Polishing Peel, but everyone's crazy about Mary Kay! So it must be good :) )
I have tried at-home microdermabrasion and clinic microdermabrasion. My comparison? There was more dead skin cells removed via clinic microdermabrasion that at-home microdermabrasion. It doesn't mean that at-home microdermabrasion kits are useless. They are to be used when you're too busy to give you a quick fix , and a quick glow on your face, but you still have to find time to have it done at the clinic if you seek a more visible result. But some people find at-home microdermabrasion procedures enough already. Maybe my skin's too complex. Oh well. :)
ECONOMICS IN IT? OF COURSE!!!
Economic theory learned? There are two choices, which bring similar results, but priced differently. It would be better if the more reasonably priced one would deliver exactly the same results as the more expensive one, but in this case, it is just a close substitute. In the absence of time, or accessibility to the more expensive but more effective procedure, a substitute would suffice. There ya go! :P
For a formal lesson, from www.economicswebinstitute.org, here's a rundown of the theories. Try to keep it within the beautynomics concept - microdermabrasion, and even beyond! :)
Substitution with respect to needs
"Goods are said to be substitutes if they serve to the same purposes, if they are equivalent in functional terms, if they satisfy the same need(s).
Imperfect substitution occurs when two goods, while satisfycing the same main need, score differently on quality and features (e.g. a Jaguar and a Mini are substitutes since they both carry people from one place to another, but on several characteristics they are different - as for comfort, prestige, etc.). Product differentiation is here fundamental.
Substitution in terms of time
"Two consumption goods can compete on the limited time the consumer has. A holiday destination competes on another one not only because both are satisficing the same need but also because one cannot be in two places at the same time. Similarly, holiday destionations compete with house duties in week-ends, although most of people prefer the former to the latter."
There is also another kind of substitution, and that is income substitution. It depends on the purchasing power of the consumer. The higher his income, the less he needs to substitute.:)
Til then! tata! Leave your comments! :)
An economics graduate that always hated her math
but loved her theories.
Believes that Economics can be found in :
- the bathroom
- in front of your vanity mirror
- an in every place beautiful.
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