Veblen good

Rarity: Uncommon

A topic a little better known than average, read and translated beyond its own country.

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What Wikipedia says

A Veblen good is a type of luxury good for which the demand increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve. They are named after American economist Thorstein Veblen who described the contradiction.

Excerpt from the Wikipedia article “Veblen good”, under the CC BY-SA 4.0 license. Read the article on Wikipedia

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