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Innovation, Income Distribution, and Product Variety

Author

Listed:
  • Rainer Vosskamp

    (University of Kassel)

Abstract

On the basis of a modification of K. Lancaster's characteristics approach and a special class of non-homothetic utility functions individual demand functions are derived. Individual demand is determined in a complex way by the income as well as the product qualities and the unit costs of the offered products. It becomes clear that product innovations (changes in product quality), process innovations (changes of unit costs) and changes in personal income distribution (e. g. due to income taxation and redistribution) all influence product variety in a very different way.

Suggested Citation

  • Rainer Vosskamp, 2009. "Innovation, Income Distribution, and Product Variety," MAGKS Papers on Economics 200949, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    • Handle: RePEc:mar:magkse:200949
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    File URL: https://www.uni-marburg.de/en/fb02/research-groups/economics/macroeconomics/research/magks-joint-discussion-papers-in-economics/papers/2009-papers/49-2009_vosskamp.pdf
    File Function: First version, 2009
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    More about this item

    Keywords

    innovation; income distribution; product variety; Lancaster's characteristics approach;
    All these keywords.

    JEL classification:

    • L0 - Industrial Organization - - General
    • D1 - Microeconomics - - Household Behavior
    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General

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