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Veblen good

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00:54 Aug 7, 2020
English to Serbian translations [PRO]
Bus/Financial - Economics
Additional field(s): Business/Commerce (general), Finance (general), Marketing / Market Research
English term or phrase: Veblen good
Definition from TapRun.com:
A product for which a higher price stimulates increased customer demand. Such items are used to advance the status of the purchaser and provide value other than direct functionality. Common examples include art, wine and jewelry.

Example sentence(s):
  • Additionally, whether or not foreign workers view Saudi Arabia’s labor market as a Veblen good has different repercussions for the policy’s future effectiveness. For instance, if we assume that the policy’s primary objective has been to curb foreign worker flows into the country, then the policy did not accomplish its goals (yet). Georgetown Public Policy Review
  • A Veblen good does not adhere to the traditional laws of price and demand. Below a certain price, the price/demand dynamics are consistent with conventional products – higher prices result in a lower demand. However, above a certain price, this relationship reverses, and demand rises along with price increases. Forbes
  • UK housebuilders are marching upwards after Berkeley hiked its shareholder bung. The builder of Veblen-good towerblocks in subprime neighbourhoods will return an extra £455m over the next two years, on top of a £280m per annum already announced. It’ll be in a tax-streamlined B and C share structure that supersedes the current £140m dividend cost, with £500m going back to investors in March 2020 at 400p per share and in March 2021 at 440p. Financial Times Alphaville
Glossary-building KudoZ




Question posted on behalf of translation team:
GBK economics and finances specialistsGBK economics and finances specialists


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Summary of translations provided
5 +1Veblenov efekat
Jelena Delibasic


  

Translations offered


4 days   confidence: Answerer confidence 5/5 peer agreement (net): +1
Veblenov efekat


Definition from Osnove ekonomije:
Veblenov efekat.
Fenomen koji se manifestuje u uverenju potrošača da porast cene datog dobra automatski znači i porast njegovog kvaliteta zbog čega potrošači ne prestaju da ga kupuju, odnosno da pad cena datog dobra automatski znači pad njegovog kvaliteta pri čemu potrošači prestaju da ga kupuju.

Example sentence(s):
  • Veblenov efekt – pad cijene vrlo kvalitetnog proizvoda ne prati povećanje potražnje (snobovski efekt) - mojrad  
Jelena Delibasic
Serbia
Local time: 20:59
Native speaker of: Native in SerbianSerbian
PRO pts in category: 4

Votes in favor of/against selecting this as the best translation of the term asked
Yes  Slobodan Kozarčić
10 hrs
  -> Hvala:)
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