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A Bandwagon Effect in Personalized License Plates?

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  • Biddle, Jeff

Abstract

The bandwagon effect is a consumption externality that exists when an individual's demand for a good is increased by his observation of other consumers using that good. This paper models a product demand curve with a bandwagon effect and, using data on sales of personalized license plates, estimates such a demand curve. Certain more conventional models of product demand, including information diffusion and habit formation models, are observationally similar to the bandwagon model, despite being conceptually different from it. The author attempts to use the license plate data to discriminate between the bandwagon model and these other models. Copyright 1991 by Oxford University Press.

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Bibliographic Info

Article provided by Western Economic Association International in its journal Economic Inquiry.

Volume (Year): 29 (1991)
Issue (Month): 2 (April)
Pages: 375-88

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Handle: RePEc:oup:ecinqu:v:29:y:1991:i:2:p:375-88

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Cited by:
  1. Micha Gisser & James E. McClure & Giray Okten & Gary Santoni, 2009. "Some Anomalies Arising from Bandwagons that Impart Upward Sloping Segments to Market Demand," Econ Journal Watch, Econ Journal Watch, vol. 6(1), pages 21-34, January.
  2. Ng, Travis & Chong, Terence & Du, Xin, 2010. "The value of superstitions," Journal of Economic Psychology, Elsevier, vol. 31(3), pages 293-309, June.
  3. Daiji Kawaguchi, 2004. "Peer effects on substance use among American teenagers," Journal of Population Economics, Springer, vol. 17(2), pages 351-367, 06.
  4. Woo, Chi-Keung & Horowitz, Ira & Luk, Stephen & Lai, Aaron, 2008. "Willingness to pay and nuanced cultural cues: Evidence from Hong Kong's license-plate auction market," Journal of Economic Psychology, Elsevier, vol. 29(1), pages 35-53, February.
  5. Kitamura, Hiroshi & Miyaoka, Akira & Sato, Misato, 2013. "Free entry, market diffusion, and social inefficiency with endogenously growing demand," Journal of the Japanese and International Economies, Elsevier, vol. 29(C), pages 98-116.
  6. Emanuela Randon, 2002. "L’analisi positiva dell’esternalità: rassegna della letteratura e nuovi spunti," Working Papers 58, University of Milano-Bicocca, Department of Economics, revised Jun 2002.

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