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Definition of Veblen good
1. Noun. A good for which people's preference for buying them ''increases'' as a direct function of their price, as greater price confers greater status. ¹
¹ Source: wiktionary.com
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1. Noun. A good for which people's preference for buying them ''increases'' as a direct function of their price, as greater price confers greater status. ¹
¹ Source: wiktionary.com