A note on fashion cycles, novelty and conformity
AbstractWe develop a model in which novelty and conformity motivate fashion behavior.Fashion cycles occur if conformity is not too high. The duration of fashion cycles depends on individual-specific conformity, novelty, and the number of available styles. The use of individual-specific novelty and conformity allows us to also identify fashion leaders.
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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2013-019.
Date of creation: 24 Apr 2013
Date of revision:
Novelty; Conformity; Fashion;
Find related papers by JEL classification:
- B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- D1 - Microeconomics - - Household Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-05-11 (All new papers)
- NEP-CWA-2013-05-11 (Central & Western Asia)
- NEP-HME-2013-05-11 (Heterodox Microeconomics)
- NEP-MIC-2013-05-11 (Microeconomics)
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University of Chicago - George G. Stigler Center for Study of Economy and State
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