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| Tekijä: | Aversi, R. |
| Otsikko: | Demand dynamics with socially evolving preferences |
| Lehti: | Industrial and Corporate Change
1999 : JUN, VOL. 8:2, p. 353-408 |
| Asiasana: | INDUSTRIAL RELATIONS DEMAND PREFERENCES |
| Kieli: | eng |
| Tiivistelmä: | In this work, the authors first identify a few stylized facts concerning microconsumption acts. Second, building on them, they develop a simple model of "boundedly rational" consumers who endogenously evolve their preferences via both innovation and social imitation. Third, they explore some statistical properties of the demand patterns generated by the model which, despite its simplicity, are surprisingly in line with the empirical evidence. |
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