Veblen good

Spanish translation: bien Veblen

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00:55 Aug 7, 2020
English to Spanish 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 specialistsGBK economics and finances specialists


This question is closed

Spanish translation:bien Veblen
Definition:
El bien Veblen es aquel cuya demanda aumenta cuando su precio también se incrementa. Esto, al ser un bien de lujo cuya calidad se percibe asociada a su coste.
Selected response from:

Luis M. Sosa
Ecuador
Grading comment
4 KudoZ points were awarded for this answer



Summary of translations provided
5 +2bien Veblen
Luis M. Sosa
4bien de Veblen
Margaret Schroeder


  

Translations offered


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
bien de Veblen


Definition from Wikipedia:
“En economía, un bien [de] Veblen es un bien que posee una curva de demanda con pendiente positiva, es decir, que al aumentar su precio también aumenta su cantidad demandada; en vez de disminuir como estipula la ley de la oferta y la demanda.” (Wikipedia)

Example sentence(s):
Margaret Schroeder
Mexico
Local time: 17:00
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
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10 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
bien Veblen


Definition from Economipedia:
El bien Veblen es aquel cuya demanda aumenta cuando su precio también se incrementa. Esto, al ser un bien de lujo cuya calidad se percibe asociada a su coste.

Example sentence(s):
  • El bien Veblen es aquel cuya demanda aumenta cuando su precio también se incrementa. Esto, al ser un bien de lujo cuya calidad se percibe asociada a su coste. - Economipedia  
  • La diferencia entre bien Veblen y Commodity es la percepción de valor que tiene el consumidor. - Revista Forbes México  

Explanation:
El concepto de bien Veblen se enmarca en la distinción que en economía se hace entre bienes libres y bienes económicos.

Ver dos muy buenas definiciones de bien Veblen en inglés:

https://corporatefinanceinstitute.com/resources/knowledge/ec...

https://www.economicshelp.org/blog/1164/economics/veblen-goo...
Luis M. Sosa
Ecuador
Local time: 18:00
Native speaker of: Native in SpanishSpanish
PRO pts in category: 20

Votes in favor of/against selecting this as the best translation of the term asked
Yes  Victor Zamorano
2 days 22 hrs
  -> Gracias Víctor

Yes  Antonella Perazzoni
3 days 4 hrs
  -> Gracias Antonella
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