Originally Posted by
ChinaShrek
Sure, but what about aspirational properties? Many people are trying to save up enough points to go to the Maldives or Maui and use their points for a 5 night stay. Of course, I wouldn't pay to stay there but I wouldn't pay to stay at any resort charging $500+ per night. I don't have that kind of money to spend. By accumulating points, I am able to access a vacation I would not otherwise access and pretend to be rich for a few days.
I think that people can use this approach to convince themselves that they are getting a vacation for "free" at a good value. If it makes them feel good about spending more than they normally would allow (and apparently it does, then that's great. A psychologist would say that the gut feeling matters much more than the reality. But I am confident that a cold-hearted economist would shake his/her head in disapproval.