Conspicuous ethics: a Veblen effect condition for ethical consumption goods

Pascal Stiefenhofer and Wei Zhang

Applied Economics Letters, 2022, vol. 29, issue 1, 72-74

Abstract: This paper considers a class of ethical consumers who are characterized by price dependent preferences. It is hypothesized that ethical consumers derive esteem from displaying moral considerations in their consumption choices. A class of additive price dependent power utility functions is introduced and a condition for ethical Veblen effects, suggesting a positive correlation between the demand of ethical conspicuous goods and their prices, is provided.

Date: 2022
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DOI: 10.1080/13504851.2020.1855306

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