What is Veblen good?
[[File:SC06 2006 Rolls-Royce Phantom.jpg|thumb|Luxury cars are an example of Veblen goods, particularly at the higher end.This image shows the [[Rolls-Royce Phantom (2003)|Rolls-Royce Phantom]]]] In [[economics]], a '''Veblen good''' is a [[good (economics)|good]] whose preference and consumption increases with its price. This is against the [[Law of supply and demand]]. The goods are named after [[Thorstein Veblen]], who first described the effect of [[conspicuous consumption]] in 1899. Veblen goods are often also [[positional good]]s. {{stub}} [[Category:Goods]]