Veblen good

High Quality Content by WIKIPEDIA articles! In economics, Veblen goods are a group of commodities for which peoples' preference for buying them increases as a direct function of their price, as greater price confers greater status, instead of decreasing according to the law of demand. Some types of high-status goods, such as high-end wines, designer handbags and luxury cars, are Veblen goods, in that decreasing their prices decreases people's preference for buying them because they are no longer perceived as exclusive or high status products

Autorentext

Yoga Divayana obtained his Ph.D. degree in Electrical and Electronic Engineering from the Nanyang Technological University, Singapore. He is recipient of the prestigious Institute of Electrical and Electronics Engineers, Laser and Electro-Optics Society Fellowship and Singapore Millennium Foundation Fellowship. His research interests focus on organic devices. Xiao Wei Sun is a tenured Associate Professor in the School of Electrical and Electronic Engineering, Nanyang Technological University, Singapore. He received his PhD degree from Hong Kong University of Science and Technology. He is the founder and chair of Society for Information Display (SID) Singapore and Malaysia Chapter. He was one of the six finalists in Singapore Technology Award 2008 for his work on ZnO.

Klappentext

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In economics, Veblen goods are a group of commodities for which peoples' preference for buying them increases as a direct function of their price, as greater price confers greater status, instead of decreasing according to the law of demand. Some types of high-status goods, such as high-end wines, designer handbags and luxury cars, are Veblen goods, in that decreasing their prices decreases people's preference for buying them because they are no longer perceived as exclusive or high status products