A ranch family in Veblen, South Dakota, had a once in a lifetime experience Tuesday night when one of their cows gave birth ...

These "Veblen goods," named after economist Thorstein Veblen who first mapped this peculiar behavior, reveal how deeply status-seeking is wired into our psyche. People aren't just willing to pay ...

Apart from a slowdown and price rise, high-end brands are having to contend with ultra-fast fashion and ‘dupe’ culture.

In an 1849 essay, Thomas Carlyle described economics as the ‘dismal science’. Attempts to elevate the discipline involves the use of mathematics and statistics, ...

The exclusivity that it brings is part of the value proposition of Veblen goods. This has always been the factor that splits ...

Alarm bells are ringing across the high-end sector. 2024 did not end as luxury brands had hoped, and the figures published by ...

The Louis Vuitton- and Dior-owner reported higher-than-expected quarterly revenue of $25.11 billion, up 1% year-over-year, ...

It’s about spending a ridiculous amount of money to show the world you can. Veblen argued that these goods—now dubbed “Veblen goods”—become more desirable as their price rises.

Luxury brands are so-called Veblen goods: a category of consumer products that inverts the usual laws of economics. Instead of crimping demand when prices rise, luxury goods can become more sought ...

Storch explains that many goods from the luxury retail sector can be characterized as "Veblen goods," wherein demand increases as price increases. He elaborates, "It might even be positive for ...

R&J Arena and Events Center in Verndale hosted its 21st annual rodeo featuring "bulls, broncs and barrels" during a two-day event that started Friday, Jan. 31, and included live bands, food and beer.