IDEAS home Printed from https://ideas.repec.org/a/bla/ajecsc/v64y2005i4p1085-1089.html
   My bibliography  Save this article

Consumer Inertia

Author

Listed:
  • Harry I. Greenfield

Abstract

This note seeks to explore one of the factors affecting a consumer who is faced with a price increase. We are also interested in the consumer as a supplier of labor services who is faced with an increase in offered wages. In both cases we postulate a less than instantaneous response to market change, which phenomenon we term an inertial interval. Note is taken of previous work by Armen A. Alchian relating time and elasticity. The present emphasis on consumer inertia is said not to be inconsistent with Alchian's view. The factors affecting consumer (and producer) inertia are referred to in general terms as habit and sensitivity to peer pressure, thus opening the discussion to psychosocial investigation of the behavior in question.

Suggested Citation

  • Harry I. Greenfield, 2005. "Consumer Inertia," American Journal of Economics and Sociology, Wiley Blackwell, vol. 64(4), pages 1085-1089, October.
    • Handle: RePEc:bla:ajecsc:v:64:y:2005:i:4:p:1085-1089
    DOI: 10.1111/j.1536-7150.2005.00427.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1536-7150.2005.00427.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1536-7150.2005.00427.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ajecsc:v:64:y:2005:i:4:p:1085-1089. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0002-9246 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.