According to Business Insider, the latest research from the National Bureau of Economic Research found that the iPhone is the most common symbol of wealth, as the paper is from the University of Chicago economists, Marianne Bertrand and Emir Kamenica.

The study found that no single independent brand can predict "high income" people more than owning an iPhone. The paper writes, “Across all years in our data, no individual brand is as predictive of being high-income as owning an Apple iPhone in 2016.”

The research said that “owning an iPhone” gave researchers a 68.1% chance of correctly inferring that their owners belonged to the “high-income” category, in which they described as “being in the top quartile of income for households of that type.”

In addition, the study also found that having an iPad is also a good sign of wealth, slightly lower than the iPhone, which is at 66.9%. As for owning an Android device, it’s said to be at 59.5%.

The paper's data are collected from Mediamark Research Intelligence, with the sample size of 6394. If you are interested, you can find the study here.

Image Via Ghana IT News
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