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A '''Veblen good''' is a [[good]] satisfying the following
equivalent conditions in a certain price range and for certain buyers: * The [[defining ingredient::price-elasticity of demand]] for the good is positive . * An increase in price leads to an increase in the desirability of possessing the good.
The typical explanation for this is the effect of [[defining ingredient::conspicuous consumption]] -- here, how expensive something is adds to the value of using it because it sends out a signal of wealth or status.