Good-quality watches are widely available for less than $100, but to qualify as a Veblen good, a watch would probably carry a four-, five-, or six-digit price tag. Veblen Goods vs. Giffen Goods ...

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 ...

These "Veblen goods," named after economist Thorstein Veblen who first mapped this peculiar behavior, reveal how deeply status-seeking is wired into our psyche.

Examples of Veblen goods are designer clothing (Gucci, Prada, and Armani), real estate (Martha’s Vineyard), and even attendance at universities like Stanford, Yale, and Georgetown.

Veblen goods are designer, luxury items with a strong brand identity. They are not sold in regular stores and are highly coveted. Consumers perceive them as being more valuable because of their ...

Because Veblen’s theories rely on the perception of others, for anything to be considered a traditional Veblen good, its price—or exclusivity—must be easily understood by others.

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 ...

Veblen goods are things — typically super-exclusive luxury items with a very limited supply — for which demand increases as price increases.

Veblen Goods. Thorstein Veblen coined the phrase “conspicuous consumption” in 1899 when commenting on the human desire to publicly display wealth through the acquisition of consumer goods.

Veblen goods, such as the items sold by LVMH, are rarely cyclical. But why's that? Well, the theory behind it is that the more expensive the products get, the more demand rises.

So if the price of a veblen good suddenly plummets, then demand will drop too because it would lose its exclusive nature. Examples of Veblen goods are designer clothing (Gucci, Prada, and Armani), ...