Comment on How dense is your city?parentComments−ars2yThat'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.−fragmede2yA 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.
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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.