Definitions
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- 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.
Etymologies
from Wiktionary, Creative Commons Attribution/Share-Alike License
Named after economist Thorstein Veblen, who first pointed out the concepts of conspicuous consumption and status-seeking.
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