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When you are a business owner, is it good to drive an expensive car or not? Will it attract customers by signalling your success or will it remind them they will be funding your lavish lifestyle?

I’ve often wondered this about real estate agents, for example, the majority of whom seem to drive late model European vehicles.

So I was interested to read new research that probed the benefits and risks of signalling your success as a service firm. In particular, the researchers...