About the scholar: Vardaan Tekriwal grew up in Indonesia and attended the Jakarta Intercultural School in Jakarta, Indonesia
The Research:
A Veblen good is one that defies the usual market trend by increasing in sales as its price increases. Pioneer scholar Vardaan theorized that two kinds of “intangible assets” can be used by companies to create more Veblen goods. Marketing and promotion can result in brand recognition; research and development can increase a company’s intellectual and creative rights, such as patents, copyrights and trademarks. Through data analysis of several companies in two distinct sectors, Vardaan concluded that increased brand recognition helps the consumer clothing industry “Veblenize” goods, while intellectual and creative rights are more helpful to the consumer electronics industry.
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