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Two words: Veblen Good. http://en.wikipedia.org/wiki/Veblen_good http://en.wikipedia.org/wiki/Veblen_good
by tjic 17y ago
Two words:
Veblen Good.
http://en.wikipedia.org/wiki/Veblen_good http://en.wikipedia.org/wiki/Veblen_good
- ryandvm 17y agoExcept high-end prostitutes are a bit of an odd Veblen good because as fewer people can afford a particular prostitute, the intrinsic value really does go up.
- mikebo 17y agoI would guess most people who see prostitutes don't want other people to know about it. Every other Veblen good I can think of is the opposite -- the idea is to conspicuously consume.
- profquail 17y agoYou're right...most people who see prostitutes don't want other people to know about it. On the other hand, most of the people who see high-end prostitutes do want people to know that there's a charming, beautiful woman with them for a certain occasion or whatever (but obviously they fail to mention that she's being paid to be there).
- gcb 17y agoThat's around 60% of the talk i hear on the locker room at my expensive gym.