I came across this article. As a warning, it is very long, but even if you just skim it a bit, there are some really great bits all throughout.
Especially of interest is the psychological tie-in to ‘conspicuous consumption’. Don’t know what that means? Then you will really enjoy this article as it explains very well why keeping up with the neighbors is full of fail and brings sad-panda type sadness.
Also, for the first time, someone seemed to touch upon that sense I get when I’m at a concert, trip or other live event. Kinda like taking it all in is almost impossible, but yet you enjoy cycling through the memories for long periods of time afterward. They contrast how the participating activity effects you long term in many positive ways versus buying stuff like a TV which wears off pretty fast. Very interesting stuff.