The concept of Veblen goods is named after the economist Thorstein Veblen, who first described the concept of "conspicuous consumption" in his book "The Theory of the Leisure Class," published in 1899.

According to Veblen, people will often buy luxury goods as a way to display their wealth and social status. In this way, the high price of Veblen goods can actually increase their appeal, because it serves as a signal of the buyer's wealth and success.

Examples of Veblen goods might include designer clothing, luxury cars, and expensive jewelry.

Veblen goods are often characterized by their exclusivity, rarity, or prestige, and they may not be valued for their practicality or utility. The demand for Veblen goods may be relatively price inelastic, meaning that it is not very sensitive to changes in price.