Veblen good

noun

A luxury item for which demand increases as its price rises, defying the standard law of demand due to its role as a status symbol.

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Meanings

nounVeblen good (plural Veblen goods)

plural Veblen goods

  1. economicsA luxury item for which demand increases as its price rises, defying the standard law of demand due to its role as a status symbol.

Origin

Named after economist Thorstein Veblen, who first pointed out the concepts of conspicuous consumption and status-seeking.

Full word history & related roots →
Cite this entry
APA

Veblen good. (n.d.). In WatkinsX Dictionary. Retrieved November 4, 2026, from https://dictionary.watkinsx.com/word/Veblen%20good

MLA

“Veblen good.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/Veblen%20good. Accessed November 4, 2026.

Chicago

WatkinsX Dictionary, s.v. “Veblen good,” accessed November 4, 2026, https://dictionary.watkinsx.com/word/Veblen%20good.

Source: Veblen good on Wiktionary, CC BY-SA 4.0.