7 ms·

Is travel a Veblen good for the average tourist to New Zealand?

• btdiehr 10y ago
  Of course not. Some people seem to think pasting tangentially related wikipedia articles contributes to discussion, but it doesn't.
  • rosser 10y ago
    It was posted as a counter-point to its parent's unqualified assertion that raising prices lowers demand.
    • kornish 10y ago
      Right. And in some cases, that would be apt, but here it's not because travel is almost never a Veblen good. > unqualified assertion that raising prices lowers demand An inverse relationship between price and demand is normal. Veblen goods are noteworthy precisely because they are exceptional. The demand of assertion, then, should fall on the poster of the Wikipedia link.
    • halcyondaze 10y ago
      Right but randomly posting in a link to Veblen good on Wikipedia because it's one example of when raising prices doesn't lower demand doesn't mean it's in any way relevant to this discussion. Almost no one would argue that this kind of travel is a Veblen good.