I read this term once, but I can’t remember it, and every few months I remember that I can’t remember the term and it bothers me. I’ve tried googling but with no success, and I think someone here may know.
The term defines a category of products that is considered more valuable because of its high price. That is, more people buy it because it is high priced than would if it were low price, because the high price makes it seem high value and because the high price makes owning the product high status. The wikipedia page for the term mentioned Rolls Royce cars as an example and said that Apple computers fit the term in the past but now do so less. Does this sound familiar to anyone? Thanks.
Wow! Incredible. This has honestly been on my mind for years. I almost said something about it starting with a “V” but I wasn’t confident enough and didn’t want to discourage a correct answer that started with a different letter. Thanks a ton.
I read this term once, but I can’t remember it, and every few months I remember that I can’t remember the term and it bothers me. I’ve tried googling but with no success, and I think someone here may know.
The term defines a category of products that is considered more valuable because of its high price. That is, more people buy it because it is high priced than would if it were low price, because the high price makes it seem high value and because the high price makes owning the product high status. The wikipedia page for the term mentioned Rolls Royce cars as an example and said that Apple computers fit the term in the past but now do so less. Does this sound familiar to anyone? Thanks.
Veblen good
Wow! Incredible. This has honestly been on my mind for years. I almost said something about it starting with a “V” but I wasn’t confident enough and didn’t want to discourage a correct answer that started with a different letter. Thanks a ton.
Some products actually are directly more valuable at higher prices. Placebos!