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Role of Consumer Preferences in an Economic System

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  • Oleg Zinam

Abstract

. This article provides a theoretical model for systematic analysis of interaction of consumer preferences with preferences of producers and of government. The central question of the study is whose preferences are rendered effective and to what extent. A theoretical framework for analysis of diverse economic systems is used to derive preference and opportunity functions of decision‐making units on consumption, production, and government sides. This model is broadened by introduction of elements of a theory of change based on the postulates of necessary and sufficient conditions. Galbraith's model is placed analytically between the two extreme ideal types and subjected to a critical analysis.

Suggested Citation

  • Oleg Zinam, 1974. "Role of Consumer Preferences in an Economic System," American Journal of Economics and Sociology, Wiley Blackwell, vol. 33(4), pages 337-337, October.
  • Handle: RePEc:bla:ajecsc:v:33:y:1974:i:4:p:337-337
    DOI: 10.1111/j.1536-7150.1974.tb02209.x
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    Cited by:

    1. Wolfgang Sofka & Joerg Zimmermann, 2007. "Regional Dimensions of Liability of Foreignness: Between a Rock and a Hard Place?," Jena Economics Research Papers 2007-023, Friedrich-Schiller-University Jena.
    2. Sofka, Wolfgang & Zimmermann, Jörg, 2008. "Regional economic stress as moderator of liability of foreignness," Journal of International Management, Elsevier, vol. 14(2), pages 155-172, June.

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