Veblen effect en · NOUN
Etymology
Named after economist Thorstein Veblen.
Meanings
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Conspicuous consumption.
The Veblen effect, unlike the other two effects, is a response by consumers to the ostentatious price of the good rather than to the quantity others are buying. It is the effect generally known as conspicuous consumption.
2020, Judy Whitehead, Microeconomics: A Global Text, Routledge, →ISBN, page 111:
Forms
| Spelling | Features | Labels | Source |
|---|---|---|---|
| Veblen effects | Number=Plur | lexicographic |