Fred Hirsch: Positional Goods

Positional goods are products and services whose value is mostly (if not exclusively) a function of their ranking in desirability, in comparison to substitutes. The extent to which a good’s value depends on such a ranking is referred to as its positionality. The term was coined by Fred Hirsch in 1976.

Hirsch, Fred. The Social Limits to Growth, Routledge & Kegan Paul, London

Other terms of note are Conspicuous consumption, a term used to describe the lavish spending on goods and services acquired mainly for the purpose of displaying income or wealth. Invidious consumption, a necessary corollary, is the term applied to consumption of goods and services for the deliberate purpose of inspiring envy in others.