Would a luxury counterfeited good be classified as an inferior good?

Question

For example, would a fake chanel bag be classified as an inferior good or a veblen good?

Answer 1

There are lousy counterfeiters and good counterfeiters.  The quality of knock offs varies widely.  Some fake Gucci purses, for example fall apart sooner and some Rolex copies stop working within a few months.

Original certified goods are usually better made and usually come with a guarantee.  These companies have a reputation to uphold and would soon go out of business if they produced shoddy goods.

Answer 2

In my opinion, it depends upon the maker.  There are "good" fake bags, and there are "poor" ones.  Counterfeits are just that, counterfeit..pretending to be something they are not.  So I suppose yes, it would be an inferior good, for the simple fact it is not really a Chanel bag.  The degree of inferiority would be determined by the quality of the counterfeit in question...I suppose...!

Answer 3

But, I wouldn't call them inferior in the sense that the definition of an inferior good is that it is a good who's demand increases when your income decreases.  A sub. to a luxury isn't necessarily inferior in and of itself.  Though, it may still be inferior to the luxury.  But, it wouldn't necessarily make it an inferior good.  But, it could be classified as normal good.  I don't think it would be velbem good.  So, I would say normal.