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An Evolutionary Theory of Household Consumption Behavior

  • Nelson, Richard
  • Consoli, Davide

Evolutionary economics badly needs a behavioral theory of household consumption behavior, but to date only limited progress has been made on that front. Partly because Schumpeter's own writings were focused there, and partly because this has been the focus of most of the more recent empirical work on technological change, modern evolutionary economists have focused on the "supply side". However, because a significant portion of the innovation going on in capitalist countries has been in the form of new consumer goods and services, it should be obvious that dealing coherently with the Schumpeterian agenda requires a theory which treats in a realistic way how consumers respond to new goods and services. The purpose of this essay is to map out a broad alternative to the neoclassical theory of consumer behavior.

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File URL: http://mpra.ub.uni-muenchen.de/20197/1/MPRA_paper_20197.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 20197.

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Date of creation: 22 Jan 2010
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Handle: RePEc:pra:mprapa:20197
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  1. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
  2. U. Witt, 2005. "From Sensory to Positivist Utilitarianism and Back -- The Rehabilitation of Naturalistic Conjectures in the Theory of Demand," Papers on Economics and Evolution 2005-07, Philipps University Marburg, Department of Geography.
  3. Rabin, Matthew, 1997. "Psychology and Economics," Department of Economics, Working Paper Series qt8jd5z5j2, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  4. R. Aversi & G. Dosi & G. Fagiolo & M. Meacci & C. Olivetti, 1997. "Demand Dynamics With Socially Evolving Preferences," Working Papers ir97081, International Institute for Applied Systems Analysis.
  5. Stefano DellaVigna, 2009. "Psychology and Economics: Evidence from the Field," Journal of Economic Literature, American Economic Association, vol. 47(2), pages 315-72, June.
  6. Consoli, Davide, 2008. "Co-evolution of capabilities and preferences in the adoption of new technologies," MPRA Paper 7175, University Library of Munich, Germany.
  7. Cowan, R. & Cowan, W. & Swann, P., 1996. "A Model of Demand with Interactions Among Consumers," UWO Department of Economics Working Papers 9609, University of Western Ontario, Department of Economics.
  8. Chris Freeman & Luc Soete, 1997. "The Economics of Industrial Innovation, 3rd Edition," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262061953, June.
  9. repec:cpi:cpijrn:6.1.2010:i=5496 is not listed on IDEAS
  10. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  11. Richard N. Langlois & Metin M. Cosgel, 1996. "The Organization of Consumption," Working papers 1996-07, University of Connecticut, Department of Economics.
  12. Giovanni Dosi & Christopher Freeman & Richard Nelson & Gerarld Silverberg & Luc Soete (ed.), 1988. "Technical Change and Economic Theory," LEM Book Series, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy, number dosietal-1988, August.
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