Editing Veblen good (section)

== Bandwagon effect ==
Sometimes, the value of a good increases as the number of buyers (or particular group of buyers and users) increases. This is called the [[bandwagon effect]] when it depends on the [[psychology]] of buying a product because it seems popular, or the [[network effect]] when numerous buyers or users itself increases the value of a good. For example, as the number of people with [[telephone]]s or [[Facebook]] accounts increased, the value of having a telephone or a Facebook account increased, because users of those could reach more people. However, neither of these effects suggests that raising the price would boost demand at a given level of saturation.