Owning an iPhone is a common indicator that you’re rich

That’s according to a new paper from University of Chicago economists Marianne Bertrand and Emir Kamenica, reports Business Insider. The economists inferred demographics based on people’s media consumption and consumer behavior and found that “no individual brand is as predictive of being high-income as owning an Apple iPhone.” Matter of fact, the researchers found that a person owning an iPhone gave them a 69.1% chance to have a “high-income,” which the researchers defined as being in the top quartile of income. The research was conducted on 6,394 people using data from 2016.