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Veblen good

Romanian translation: Bun Veblen

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00:54 Aug 7, 2020
English to Romanian 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


This question is closed

Romanian translation:Bun Veblen
Definition:
În mod similar bunurilor Giffen, un bun Veblen este un bun pentru care o creștere a prețului acestuia va determina oamenii să cumpere chiar mai mult din acel produs. Spre deosebire de bunurile Giffen însa, motivul acestui comportament este demonstrarea unui statut social aparte
Selected response from:

Radu DANAILA
Romania
Grading comment
4 KudoZ points were awarded for this answer



Summary of translations provided
5 +2Bun Veblen
Radu DANAILA


  

Translations offered


5 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
Bun Veblen


Definition from Wikipedia:
În mod similar bunurilor Giffen, un bun Veblen este un bun pentru care o creștere a prețului acestuia va determina oamenii să cumpere chiar mai mult din acel produs. Spre deosebire de bunurile Giffen însa, motivul acestui comportament este demonstrarea unui statut social aparte

Example sentence(s):
  • "Bun Veblen – respecta si el o parte din regula bunurilor Giffen. Dar spre deosebire de acestea, un bun Veblen este un bun in cazul caruia daca cresc preturile, creste si cantitatea ceruta. In aceasta speta insa, este vorba despre o crestere nefortata – e vorba pur si simplu de niste produse care demonstreaza un statut social (precum diamantele)." - infrasunete.eu  
  • "La fel ca lichiorul de înaltă calitate, mașinile fanteziste și brandurile de modă, bitcoin se comportă ca un bun Veblen. Prețurile mai ridicate pentru anumite bunuri se datorează statutului social care vine odată cu achiziționarea produsului respectiv, ceea ce Bernstein numește “snob value”. " - https://goanadupabitcoin.ro  
Radu DANAILA
Romania
Local time: 15:19
Native speaker of: Native in RomanianRomanian
PRO pts in category: 44

Votes in favor of/against selecting this as the best translation of the term asked
Yes  Simona Iacob
10 days
  -> Multumesc!
Yes  Gabriela Raț
60 days
  -> Mulțumesc!
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