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by ars 832 days ago
And you can do that with a cheaper watch also. That makes in a Veblen, but a more expensive lawn is not a better lawn. So a lawn is not a Veblen.
1 comments

Having a large expansive lawn with rocky features, rare plants, water features, and fish, while being perfectly manicured attached to an estate is a way better lawn than a 12x20 green rectangle in the front of a suburban home's lot.
That's the opposite of what I said. A Veblen good means the same item, if priced higher, is somehow more desirable.

But you've described a more expensive lawn that is actually better, which makes it a normal good.

You are simply wrong about lawns being a Veblen, and you should acknowledge that.

A Veblen good is something for which demand goes up as it gets more expensive, not for the same item. A Rolex isn't the same as a Casio.