Veblen good

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00:54 Aug 7, 2020

English to Croatian 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

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Question posted on behalf of translation team:

GBK economics and finances specialists

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Summary of translations provided

4 +1

Veblenovo dobro

Kate Perak

Translations offered

7 hrs confidence:

peer agreement (net): +1

Veblenovo dobro

Definition from own experience or research:
Navodno, što je viša cijena veća je potraživana količina, a što je niža cijena, to je manja potraživana količina. Takva dobra se obično nazivaju Veblenova dobra, nazvana po socijalističkom ekonomistu Thorsteinu Veblenu.

Example sentence(s):

Svaka promjena količine potrošnje nekog dobra posljedica je efekta dohotka (ako je dobro «normalno» troši ga se više na većoj razini dohotka) i efekta supstitucije (ako dobru padne relativna cijena troši ga se više osim ako nije Veblenovo statusno dobro za kojim potražnja pada kada relativno pojeftini). - Arhivanalitika
Cijena je novčano izražena vrijednost nekretnine. Iako u iznimnim slučajevima cijena ne mora imati veze s inputima (nekretnine kao Veblenova dobra) ona je rezultat ulaznih troškova uvećanih za očekivani profit s gledišta investitora. - EFST

Kate Perak
Croatia
Local time: 10:40
Native speaker of:

Croatian

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