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  2. Snob effect - Wikipedia

    en.wikipedia.org/wiki/Snob_effect

    The "snob effect" contrasts most other microeconomic models, in that the demand curve can have a positive slope, rather than the typical negatively sloped demand curve of normal goods. This situation is derived by the desire to own unusual, expensive or unique goods. These goods usually have a high economic value, but low practical value.

  3. Veblen good - Wikipedia

    en.wikipedia.org/wiki/Veblen_good

    Veblen goods such as luxury cars are considered desirable consumer products for conspicuous consumption because of, rather than despite, their high prices.. A Veblen good is a type of luxury good, named after American economist Thorstein Veblen, for which the demand increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve.

  4. Conspicuous consumption - Wikipedia

    en.wikipedia.org/wiki/Conspicuous_consumption

    The development of Veblen's sociology of conspicuous consumption also identified and described other economic behaviours such as invidious consumption, which is the ostentatious consumption of goods, an action meant to provoke the envy of other people; and conspicuous compassion, the ostentatious use of charity meant to enhance the reputation ...

  5. Giffen good - Wikipedia

    en.wikipedia.org/wiki/Giffen_good

    If precondition #1 is changed to "The goods in question must be so inferior that the income effect is greater than the substitution effect" then this list defines necessary and sufficient conditions. The last condition is a condition on the buyer rather than the goods itself, and thus the phenomenon is also called a "Giffen behavior".

  6. The Theory of the Leisure Class - Wikipedia

    en.wikipedia.org/wiki/The_Theory_of_the_Leisure...

    The Theory of the Leisure Class: An Economic Study of Institutions (1899), by Thorstein Veblen, is a treatise of economics and sociology, and a critique of conspicuous consumption as a function of social class and of consumerism, which are social activities derived from the social stratification of people and the division of labor; the social institutions of the feudal period (9th–15th c ...

  7. Harvey Leibenstein - Wikipedia

    en.wikipedia.org/wiki/Harvey_Leibenstein

    1950, "Bandwagon, Snob and Veblen Effects in the Theory of Consumer Demand", Quarterly Journal of Economics, Vol.64 No.2 : Page 183-207 1954, A Theory of Economic-Demographic Development, Foreword by Frank Notestein, Princeton, New Jersey: Princeton University Press

  8. Category:Consumer theory - Wikipedia

    en.wikipedia.org/wiki/Category:Consumer_theory

    Snob effect; Substitute good; Substitution effect; V. Value and Capital; Veblen good This page was last edited on 29 August 2020, at 20:49 (UTC). ...

  9. Conspicuous leisure - Wikipedia

    en.wikipedia.org/wiki/Conspicuous_leisure

    Veblen defines leisure as the non-productive consumption of time. The wealthy consume time unproductively due to a disgust of menial labor but also as evidence of their pecuniary ability to live idle lives. But there are moments when even the noble is not viewed publicly and then he must give a satisfactory account of his use of time.