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Talk:Economics Lecture Four (view source)
Revision as of 03:10, March 5, 2013
, 03:10, March 5, 2013→Giffen goods + Veblen goods: Excellent suggestion - which helps students understand Giffen goods better due to the contrast.
I wonder if in the section on Giffen goods you should also include a bit on Veblen goods, which are goods that increase in demand as price increases because their perceived quality goes up. Such goods include diamond rings and expensive cars etc. They are not related to giffen goods except that they are another interesting example of a paradox in economics. --[[User:DamianJohn|DamianJohn]] 18:31, 3 March 2013 (EST)
I wonder if in the section on Giffen goods you should also include a bit on Veblen goods, which are goods that increase in demand as price increases because their perceived quality goes up. Such goods include diamond rings and expensive cars etc. They are not related to giffen goods except that they are another interesting example of a paradox in economics. --[[User:DamianJohn|DamianJohn]] 18:31, 3 March 2013 (EST)
:Excellent suggestion - which helps students understand Giffen goods better due to the contrast. I added the Veblen goods to the lecture. Thanks for mentioning this.--[[User:Aschlafly|Andy Schlafly]] 22:10, 4 March 2013 (EST)