Consumption in a vacuum
In recent years, economics has paid increasing attention to the phenomenon of consumption. Insights from outside of the mainstream and from outside of economics proper have found inroads as well. Largely neglected in previous decades, consumption theory in economics was the exclusive domain for technical discussions only for a long time, as the articles selected by the late Kevin Lancaster show. Consumption of many goods is, however, highly symbolic—consumption behavior is in large part about institutionalized communication where instrumental considerations do not necessarily play an important role. Some of the most promising ideas that can be developed further in economics to better understand consumption behavior are presented.
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Volume (Year): 35 (2005)
Issue (Month): 1 (March)
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References listed on IDEAS
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- Thompson, Craig J & Haytko, Diana L, 1997. " Speaking of Fashion: Consumers' Uses of Fashion Discourses and the Appropriation of Countervailing Cultural Meanings," Journal of Consumer Research, University of Chicago Press, vol. 24(1), pages 15-42, June.
- Boland, Lawrence A, 1981. "On the Futility of Criticizing the Neoclassical Maximization Hypothesis," American Economic Review, American Economic Association, vol. 71(5), pages 1031-36, December.
- Pesendorfer, Wolfgang, 1995.
"Design Innovation and Fashion Cycles,"
American Economic Review,
American Economic Association, vol. 85(4), pages 771-92, September.
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