The Rationale Behind Lavish Feasting

This paper examines individuals’ willingness to allocate financial resources for rituals, using examples from developed and developing countries. The study aims to identify the foundations of economic decision- making through a comparative assessment of holiday financing (e.g., weddings or funerals). The data for this analysis was obtained from The Global Findex Database 2011, which offers nearly 300 indicators on various financial topics, including account ownership, payment methods, savings, credit, and financial resilience. The sample size comprised 147 000 individuals from 144 countries. The applied methodology includes a comparative analysis of statistical sociological survey results. On average, only about 3% of respondents reported taking a loan specifically for a wedding or funeral. This proportion varies significantly by region, offering insights into cultural traditions and economic landscapes. Respondents from Asia and Africa exhibit considerably lower willingness to take loans for these purposes compared to those from Europe. These regional differences contradict credit availability levels and are not entirely explained by disparities in economic development or cultural distinctions. The willingness of families to take loans for ritual feasts can be viewed as an indicator of the inelasticity of ritual-related expenditures in relation to economic factors. A proportional similarity in ritual expenses is observed in countries formerly part of empires with metropolises at vastly different levels of economic development. This emphasizes the importance of traditions rather than economic capacity. The study hypothesizes that as societies develop economically, traditional behaviors become more elastic, meaning they become more sensitive to economic constraints.