And they do so for very different reasons. Meet Veblen and Giffen goods, the products that “break the rules”. Broadly speaking, necessity goods are all those things we require for everyday ...

Judging by recent Taylor Swift concerts, live music is becoming the 21st century’s version of “Veblen goods”, a luxury product for which demand increases as the price rises. Second ...

And they do so for very different reasons. Meet Veblen and Giffen goods, the products that“break the rules”. Normal goods can be further divided into two types: necessity goods and luxury goods.