What are Veblen goods? How are they different from regular goods and commodities and how is bitcoin a Veblen good? For most products and services, there is an inverse relationship between price and ...

If Apple is indeed a Veblen brand (or more accurately, the goods produced by Apple are Veblen Goods) then why not try to raise the price of the next iPhone by $100? For the increase in price might ...

A Veblen good is a product that challenges conventional economic theory. Normally, when the price of something increases, demand tends to drop. But for Veblen goods, the opposite occurs — demand ...

Tyler Cowen tells us of some research done with capuchin monkeys and the prices of goods. And then he concludes that while the monkeys got the answer right (they weren't fooled into thinking that ...

In economics, goods and services can be classified in different ways. You might be surprised to realise you already knew this, even without knowing their classification names. Most goods and services ...

A Louis Vuitton / Supreme boxed logo t-shirt recently sold for $1,750. The shirt was produced by Supreme, which originally sold it for $485. You may think that this item is an anomaly, but it is not.

As we all know Apple's now the most valuable stock market company based ever. As long as we ignore inflation, don't count the size of the economy it's sitting in and so on. But well done to them, they ...

For most products and services, there is an inverse relationship between price and demand. That is, when the price goes up, demand goes down. However, for Veblen goods, there is a direct relationship ...