Construct · 1 fields · 1 citations

snob effect: a standalone construct

One name. One construct. A landmark on the map.

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Economics

a decrease in demand for a good because other people are buying it, as consumers seek exclusiveness.

In economics, snob effect refers to a decrease in demand for a good because other people are buying it, as consumers seek exclusiveness. This meaning comes from Leibenstein (1950) in The Quarterly Journal of Economics.[1]

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Nearby constructs

bandwagon effect1 fields · 1 citationsanchor · a standalone construct conspicuous consumption4 names · 6 citationsjangle · one construct, four traditions Veblen good1 fields · 2 citationsanchor · a standalone construct

References

Leibenstein, H. (1950). Bandwagon, Snob, and Veblen Effects in the Theory of Consumers' Demand. The Quarterly Journal of Economics, 64(2), 183. https://doi.org/10.2307/1882692

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