> Isn't a Giffen good then just something where one infers quality from price? No, it's an inferior good (in the economic sense) in which the (negative) income

> Isn't a Giffen good then just something where one infers quality from price? No, it's an inferior good (in the economic sense) in which the (negative) income effect of a price increase outweighs the success substitution effect. What you are describing is a good that has a positive elasticity of demand with respect to income (or, technically, two different goods, because the higher price represents a different good altogether - one with a higher status symbol).