November 26, 2019
Veblen effect
Abnormal market behavior where consumers purchase the higher-priced goods whereas similar low-priced (but not identical) substitutes are available. It is caused either by the belief that higher price means higher quality, or by the desire for conspicuous consumption
Abnormal market behavior where consumers purchase the higher-priced goods whereas similar low-priced (but not identical) substitutes are available. It is caused either by the belief that higher price means higher quality, or by the desire for conspicuous consumption
Original tweet: https://twitter.com/giano/status/1199389288498114561
This is one of the many thoughts I post on Twitter on daily basis. They span many disciplines, including art, artificial intelligence, automation, behavioral economics, cloud computing, cognitive psychology, enterprise management, finance, leadership, marketing, neuroscience, startups, and venture capital.
I archive all my tweets here.
I archive all my tweets here.