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Shoppers outside of a store of a well-known luxury brand that counts as a Veblen good, meaning popularity increases as price increases.

The Economics of Social Status: Why We Pay More for Less

Veblen goods are luxury goods that violate the Law of Demand, which states that quantity demanded of a good falls as price rises. Veblen goods actually become more popular as prices increase. Why is this the case? Can the purchase of such goods be reasonable?...
5 min read
Tezos neon sign with black background and smoke
Behavioural economics Information Failure Market Failure

The NFT Resurgence and the Minsky Speculative Bubble Cycle

Published on March 21, 2024

Photograph of the inside of a car dealership, with a red Mazda in the background and a desk in the foregroun
Market Failure

Market Failures in the Age of Product Complexity: Addressing Information Asymmetry

Published on January 12, 2024

Cartelism Meaning
Definitions Market Failure

Cartelism Meaning

Published on January 02, 2024

Pareto Efficiency
Definitions Competitive markets Market Failure

Pareto Efficiency

Published on September 14, 2023

Understanding the Tragedy of the Commons with Examples
Definitions Behavioural economics Market Failure

Understanding the Tragedy of the Commons with Examples

Published on May 08, 2023

An image showing a light bulb.
Competitive markets Definitions Factors of production Market Failure Market failures Information Failure Behavioural economics

Allocative Efficiency

Published on March 05, 2023

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Definitions Behavioural economics Information Failure Market Failure Competitive markets

Asymmetric Information

Published on December 26, 2022

Newer Posts
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Main Economic Implications of SWOT Analysis for Web Development Company

Main Economic Implications of SWOT Analysis for Web Development Company

How can a company make smarter decisions in a fast-changing business environment? A SWOT analysis offers a great starting point. For compani...
7 min read

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