[samatman]

Veblen goods as defined on the Wikipedia page (Veblen himself is more careful) are a bit of a spook, a product which sells more every time the price is raised to no limit is of course impossible.

In contradiction to your post which I replied to, Apple has raised the price of their flagship iPad and iPhone, and continued to bust through sales records. That's Veblen enough for me.

They have also lowered the price of their most affordable product in a category, and in any case, this being tech, each new product isn't the same as the predecessor, which complicates the analysis.

I don't think "people buy the latest flagship iPhone because it's expensive" is as true for Apple as it is for, say, BMW.

But it's reasonably true, and there's a trope to go with it: Apple keeps releasing products where the commentariat say "that's so much money for an X! who is going to buy this?" and then sell millions of that product.

[lotsofpulp]

>In contradiction to your post which I replied to, Apple has raised the price of their flagship iPad and iPhone, and continued to bust through sales records. That's Veblen enough for me.

Seems like a useless concept to me. If the flagship phones are getting better and better each year, why is it noteworthy that the price might increase? Is there a business that sells a better product at the same price as an inferior product?