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Words I learned today

A Veblen good is a product whose demand curve shifts in proportion to its expense. The more it costs, the more desirable it becomes, such as the Hermes Birkin Bag, on which you can spend $124,750 (well, in theory you could).

A Giffen good is a product whose consumption increases as costs increase, defying typical supply-and-demand curves. Giffen goods are inferior goods whose demand disregards quality.

(Via the wonderful Felix Salmon, who actually used the latter term incorrectly--my Prada shoes are Veblen, not Giffen, goods, although I find them most desirable at 60% off.)

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The history
The Ideapad debuted on November 1, 1998 and has been through numerous incarnations through the years. It is now a weblog and personal journal.
Once upon a time I wrote Usability: The Site Speaks for Itself (Publisher's page / Amazon.com)
Once in a whenever I consult as User Savvy (dormant)
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