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special issue: Variety, growth and demand

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  • Pier Paolo Saviotti

    ()
    (INRA-SERD, Universit, Pierre Mend, s-France, BP 47, 38040 Grenoble, C, dex 9, France)

Abstract

A dynamic model of demand compatible with a changing composition of the economic system is presented in this paper. Consumers are not expected to have completely formed preferences for radically new objects of consumption. Consumers adopt new goods or services ,created by innovation, only if three barriers are overcome: 1) a critical (minimum) level of income, 2) critical human capital, 3) critical fitness. However, even a new good or service with a fitness higher than that of pre-existing ones, will not be immediately adopted. Consumers'.limited knowledge will slow down the rate of adoption of any new good or service.

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Bibliographic Info

Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 11 (2001)
Issue (Month): 1 ()
Pages: 119-142

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Handle: RePEc:spr:joevec:v:11:y:2001:i:1:p:119-142

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Related research

Keywords: Demand - Critical income - Imitation - Uncertainty - Human capital;

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Cited by:
  1. Syrquin, Moshe, 2010. "Kuznets and Pasinetti on the study of structural transformation: Never the Twain shall meet?," Structural Change and Economic Dynamics, Elsevier, vol. 21(4), pages 248-257, November.
  2. Gianfranco Giulioni, 2011. "The product innovation process and GDP dynamics," Journal of Evolutionary Economics, Springer, vol. 21(4), pages 595-618, October.
  3. Ulrich Witt, 2008. "Symbolic Consumption and the Social Construction of Product Characteristics," Papers on Economics and Evolution 2008-15, Philipps University Marburg, Department of Geography.
  4. Holzl, Werner & Reinstaller, Andreas, 2007. "The impact of productivity and demand shocks on structural dynamics: Evidence from Austrian manufacturing," Structural Change and Economic Dynamics, Elsevier, vol. 18(2), pages 145-166, June.
  5. Muhammad Javaid & Pier-Paolo Saviotti, 2012. "Financial system and technological catching-up: an empirical analysis," Journal of Evolutionary Economics, Springer, vol. 22(4), pages 847-870, September.
  6. Corinna Manig & Alessio Moneta, 2009. "More or Better ? Measuring Quality versus Quantity in Food Consumption," LEM Papers Series 2009/17, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  7. Andreas Chai & Alessio Moneta, 2011. "Back to Engel? Some evidence for the hierarchy of needs," Papers on Economics and Evolution 2011-13, Philipps University Marburg, Department of Geography.
  8. Marco Valente, 2012. "Evolutionary demand: a model for boundedly rational consumers," Journal of Evolutionary Economics, Springer, vol. 22(5), pages 1029-1080, November.
  9. Krafft, Jackie, 2004. "Entry, exit and knowledge: evidence from a cluster in the info-communications industry," Research Policy, Elsevier, vol. 33(10), pages 1687-1706, December.
  10. Lars Feld & Jan Schnellenbach & Thushyanthan Baskaran, 2012. "Creative destruction and fiscal institutions: a long-run case study of three regions," Journal of Evolutionary Economics, Springer, vol. 22(3), pages 563-583, July.
  11. Flacher, David & Gastaldo, Sylviane & Lorenzi, Jean-Hervé & Villemeur, Alain, 2010. "Structure de consommation, innovation et régimes de croissance," Economics Papers from University Paris Dauphine 123456789/5053, Paris Dauphine University.
  12. Saviotti, Pier Paolo & Pyka, Andreas, 2004. "Economic development, qualitative change and employment creation," Structural Change and Economic Dynamics, Elsevier, vol. 15(3), pages 265-287, September.
  13. Andreas Chai & Alessio Moneta, 2014. "Escaping Satiation Dynamics: Some Evidence from British Household Data," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 234(2-3), pages 299-327, April.
  14. Yoguel, Gabriel & Pereira, Mariano, 2014. "Industrial and technological policy: Contributions from evolutionary perspectives to policy design in developing countries," MPRA Paper 56290, University Library of Munich, Germany.

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