![Is extra virgin olive oil a Veblen good?](/content/images/size/w800/2021/07/166560030_m.jpg)
Is extra virgin olive oil a Veblen good?
In the absence of knowledge about a product's intrinsic quality, a high price serves as the only clue aspirational shoppers need.
In the absence of knowledge about a product's intrinsic quality, a high price serves as the only clue aspirational shoppers need.