A Veblen good is a product that challenges conventional economic theory. Normally, when the price of something increases, demand tends to drop. But for Veblen goods, the opposite occurs — demand ...

What are Veblen goods? How are they different from regular goods and commodities and how is bitcoin a Veblen good? For most products and services, there is an inverse relationship between price and ...

Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in ...

Tyler Cowen tells us of some research done with capuchin monkeys and the prices of goods. And then he concludes that while the monkeys got the answer right (they weren't fooled into thinking that ...

For most products and services, there is an inverse relationship between price and demand. That is, when the price goes up, demand goes down. However, for Veblen goods, there is a direct relationship ...