PRICING OF LABUBU FIGURES IN DIGITAL MARKETPLACES: A BEHAVIORAL ECONOMICS ANALYSIS

Authors : Çağatay Tunçsiper, Emine Örs

Pages : 369-393

Doi:10.61127/idusos.1820147

View : 121 | Download : 318

Publication Date : 2025-12-31

Article Type : Research Paper

Abstract :This study investigates the behavioral economics underpinning the pricing dynamics of Labubu collectible figures in digital marketplaces, arguing that psychological factors significantly distort prices beyond traditional supply-demand models. Grounded in Prospect Theory, conspicuous consumption, and herding behavior, the research analyzes a curated 2024 eBay data set of premium, original figures. Empirical findings reveal a non-normal, right-skewed price distribution with high kurtosis, where the mean price ($221.35) substantially exceeded the median ($180), a disparity confirmed by the Shapiro-Wilk test\\\'s rejection of normality. This skew was primarily driven by high-value outliers, as their removal caused the mean to drop to $178.70 and the distribution to normalize, demonstrating that extreme prices for perceived \\\"rare\\\" items artificially inflate the market average. Further analysis using bootstrap methods established a robust 95% confidence interval of [$173.80, $183.50] for the core market price, highlighting its stability absent behavioral extremes. Visualizations confirmed a multimodal distribution, with a primary cluster at $100-250 and a secondary outlier cluster around $400-600, indicating distinct consumer segments and price thresholds. These statistical anomalies are interpreted through a behavioral lens: the \\\"limited edition\\\" framing triggers loss aversion and Fear of Missing Out (FOMO), social media influence and influencer campaigns propagate herding behavior that fuels speculative demand, and conspicuous consumption transforms the figures into status symbols, legitimizing premium pricing. The study concludes that the Labubu market is a quintessential example of how behavioral biases rather than pure economic rationality govern price formation in digital collectibles. It contributes an original, data-driven framework to the literature, bridging behavioral theory with empirical market data and underscoring the necessity of integrating psychological and social dynamics into analyses of modern digital consumer behavior.
Keywords : Davranışsal İktisat, Sembolik Tüketim, FOMO, Dijital Tüketici Davranışı

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