special issue: Consumption, preferences, and the evolutionary agenda
AbstractThe purpose of this paper is to provide a preliminary evolutionary account of preferences, consumption and demand. This is particularly relevant for the study of innovation which offers consumers the opportunity to develop new behaviours. The paper approaches this question in two stages. First it recognises the importance of time as well as income constraints on consumer behaviour. Secondly, it develops a behavioural approach to consumption routines in terms of Herrnstein's concept of meloriation. In this account the focus is upon activities for which commodities and time are inputs and, with innovation, time is rescheduled on many fronts. Consumer learning is related to a replicator dynamic process. It is shown how changes in wages, prices and the time required to consume influence the demand for activities.
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Bibliographic InfoArticle provided by Springer in its journal Journal of Evolutionary Economics.
Volume (Year): 11 (2001)
Issue (Month): 1 ()
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- Marco Valente, 2012. "Evolutionary demand: a model for boundedly rational consumers," Journal of Evolutionary Economics, Springer, vol. 22(5), pages 1029-1080, November.
- Consoli, Davide, 2005. "Technological cooperation and product substitution in UK retail banking: the case of customer services," Information Economics and Policy, Elsevier, vol. 17(2), pages 199-215, March.
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- João Bernardino & Tanya Araújo, 2013. "On positional consumption and technological innovation: an agent-based model," Journal of Evolutionary Economics, Springer, vol. 23(5), pages 1047-1071, November.
- Jakob Kapeller & Bernhard Schütz & Stefan Steinerberger, 2013. "The impossibility of rational consumer choice," Journal of Evolutionary Economics, Springer, vol. 23(1), pages 39-60, January.
- Patriarca, Fabrizio & Vona, Francesco, 2013.
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Elsevier, vol. 37(8), pages 1641-1658.
- Fabrizio Patriarca & Francesco Vona, 2009. "Structural Change and the Income Distribution: a Post-Keynesian disequilibrium model," Working Papers - Dipartimento di Economia 5, Dipartimento di Economia, Sapienza University of Rome, revised 2009.
- Cecere, Grazia, 2012. "Creative and adaptive responses in technological change," 23rd European Regional ITS Conference, Vienna 2012 60396, International Telecommunications Society (ITS).
- Gupta, Abhay, 2006. "Technological Progress on Consumption side: Consolidation and Prevalence of Complements," MPRA Paper 8998, University Library of Munich, Germany.
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