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 ...

Veblen goods. This is a term that I heard years ago and had stick in some dark crevice of my brainpan, but could never call it up when I wanted to. I knew it was there, but couldn't remember what it ...