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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. 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.
  2. Pier Paolo Saviotti & Andreas Pyka, 2002. "Economic Development, Qualitative Change And Employment Creation," Computing in Economics and Finance 2002 362, Society for Computational Economics.
  3. Andreas Chai & Alessio Moneta, 2012. "Back to Engel? Some evidence for the hierarchy of needs," Journal of Evolutionary Economics, Springer, vol. 22(4), pages 649-676, September.
  4. 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.
  5. 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.
  6. Moshe Syrquin, 2007. "Kuznets and Pasinetti on the Study of Structural Transformation: Never the Twain Shall Meet?," ICER Working Papers 46-2007, ICER - International Centre for Economic Research.
  7. Muhammad Nadeem Javaid & Pier Paolo Saviotti, 2012. "Financial system and technological catching-up: an empirical analysis," Working Papers 170625, Institut National de la Recherche Agronomique, France.
  8. 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.
  9. Jan Schnellenbach & Thushyanthan Baskaran & Lars P. Feld, 2009. "Creative Destruction and Fiscal Institutions: A Long-Run Case Study of Three Regions," Papers on Economics and Evolution 2009-08, Philipps University Marburg, Department of Geography.
  10. 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.
  11. Marco Valente, 2012. "Evolutionary demand: a model for boundedly rational consumers," Journal of Evolutionary Economics, Springer, vol. 22(5), pages 1029-1080, November.
  12. Gianfranco Giulioni, 2011. "The product innovation process and GDP dynamics," Journal of Evolutionary Economics, Springer, vol. 21(4), pages 595-618, October.
  13. Corinna Manig & Alessio Moneta, 2014. "More or better? Measuring quality versus quantity in food consumption," Journal of Bioeconomics, Springer, vol. 16(2), pages 155-178, July.
  14. 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.

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