NYT: My Cortex Made Me Buy It?

M.P. Dunleavy in the NYT details the work of Antonio Rangel an associate professor of economics at Caltech:

Given the human love affair with high-priced luxury goods, and their association with status and power, it’s possible that we’ve come to experience a cerebral shiver of delight in response to things that promise that cachet. It is as if consuming high-end goods might lead to a personal transformation that bargain-hunting can’t buy.

(h/t to Rex Hammock)

Is this really true? I believe these scientists (and writers and editors for the NYT) should look into anthropology.

What do you think?