> A Veblen good is a type of luxury good for which the demand for a good increases as the price increases, in apparent contradiction of the law of demand, resul

> A Veblen good is a type of luxury good for which the demand for a good increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve. The higher prices of Veblen goods may make them desirable as a status symbol in the practices of conspicuous consumption and conspicuous leisure. A product may be a Veblen good because it is a positional good, something few others can own. * https://en.wikipedia.org/wiki/Veblen_good https://en.wikipedia.org/wiki/Veblen_good Also: * https://en.wikipedia.org/wiki/Giffen_good https://en.wikipedia.org/wiki/Giffen_good