# Research Scholar Robert Frank on the effects of spending habits of the wealthy

1 Faculty News July 13, 2012 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/2012-07-13/americans-living-larger-as-new-home-sizes-defy-economy.html) -- "The behavior of wealthier households can have an adverse effect on less-wealthy people, [Robert Frank](http://w4.stern.nyu.edu/faculty/bio/robert-frank), a Cornell University economist, wrote in an e-mail, describing the phenomenon as a 'positional arms race.'"

[Read more](http://www.bloomberg.com/news/2012-07-13/americans-living-larger-as-new-home-sizes-defy-economy.html)

Additional coverage appeared in [Bloomberg Businessweek](http://www.businessweek.com/news/2012-07-13/americans-living-larger-as-new-home-sizes-defy-economy).