Fashion is a popular style of behavior at a given time or place. In this paper we model fashion as a dynamic phenomenon, characterized by fragility of mass behvior and life cycles. Conformity of behavior is generated by a consumption externality, while the typical intertemporal aspects of fashion are the outcome of segmented communication: knowledge about available actions is imperfect and there exists social segregation in the way knowledge is generated and transmitted. The proposed approach is consistent with views of sociologists and marketing experts about fashion.
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Paper provided by University of Bonn, Germany in its series Discussion Paper Serie A with number
462.
Length: Date of creation: Dec 1994 Date of revision: Handle: RePEc:bon:bonsfa:462
Contact details of provider: Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany Fax: +49 228 73 9221 Web page: http://www.bgse.uni-bonn.de/index.php?id=517
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Find related papers by JEL classification: D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory M30 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - General
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Wolfgang Pesendorfer, 1993.
"Design Innovation and Fashion Cycles,"
Discussion Papers
1049, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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