named after economist thorstein veblen, who introduced the term conspicuous consumption, a veblen good is one whose demand increases as its price increases because consumers see it as an exclusive status symbol. unlike most goods, which have a downward-sloping demand curve because demand goes down as price goes up, a veblen good has an upward-sloping demand curve. veblen goods are high quality, coveted items. they are designer, luxury items with a strong brand identity, and they are not sold in regular stores. these goods are priced so high that only the very affluent can afford them. the higher the price, the less likely other consumers can afford them, and the more buyers perceive them to signal great wealth and success. if a veblen's good price decreases, demand will decrease because status-conscious consumers will see it as less exclusive. ? is a multi-millionaire baseball player. he can afford any ? ones. while a $10,000 used pickup track would suit his needs, he doesn't even drive that much since he is on ? for the game so often, he decides to purchase a $200,000 luxury car, so that people will know someone important and successful is inside when he ? home ? needs to get around town. ? loves the few ? he gets from driving a car that almost no one else can afford. for ?, his $200,000 car is a symbol ? status as an elite, major-league athlete. a $50,000 or even $100,000 car wouldn't satisfy him because too many other people could afford it.
- conspicuous consumption・・・衒示的消費
- veblen good・・・ヴェブレン財→https://ja.wikipedia.org/wiki/%E3%83%B4%E3%82%A7%E3%83%96%E3%83%AC%E3%83%B3%E8%B2%A1