Cash and the Counter: Capabilities and Preferences in the Demand for Banking Technologies

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Cash and the Counter: Capabilities and Preferences in the Demand for Banking Technologies

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Davide Consoli (CRIC - Institute of Innovation Research, University of Manchester UK)

Abstract

The main argument of this paper is that consumption and demand, like production, are discovery processes guided by trial-and-error and learning by consuming. The key question that is addressed is: how do consumers deal with innovation? By bringing together a number of threads within the innovation literature my claim is that consumers, akin to firms, follow routines that shape their consumption bundle, conceived here as an ensemble of activities rather than a bunch of goods. The analysis developed in the paper takes a very specific angle by elaborating on empirical evidence on the patterns of use of retail payment services in the United Kingdom to appreciate how consumption and demand can be shaped by the intertwined evolution of capabilities and preferences.

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Paper provided by EconWPA in its series Industrial Organization with number 0511001.

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Length: 37 pages
Date of creation: 08 Nov 2005
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Handle: RePEc:wpa:wuwpio:0511001

Note: Type of Document - pdf; pages: 37
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Find related papers by JEL classification:
L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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Other versions:
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Other versions:
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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. [Downloadable!] (restricted)
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Other versions:
- Nelson, Richard R. & Winter, Sidney G., 1993. "In search of useful theory of innovation," Research Policy, Elsevier, vol. 22(2), pages 108-108, April. [Downloadable!] (restricted)
Consoli, Davide, 2005. "The dynamics of technological change in UK retail banking services: An evolutionary perspective," Research Policy, Elsevier, vol. 34(4), pages 461-480, May. [Downloadable!] (restricted)
Davies, Andrew, 1996. "Innovation in Large Technical Systems: The Case of Telecommunications," Industrial and Corporate Change, Oxford University Press, vol. 5(4), pages 1143-80.
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Other versions:
- Richard N. Langlois & Nicolai J. Foss, 1997. "Capabilities and Governance the Rebirth of Production in the Theory of Economic Organization," DRUID Working Papers 97-2, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
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