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Social norms and equality of opportunity in conspicuous consumption. On the diffusion of consumer good innovation.

Reinstaller, Andreas and Sanditov, Bulat (2003) Social norms and equality of opportunity in conspicuous consumption. On the diffusion of consumer good innovation. Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness", 29. Inst. für Volkswirtschaftstheorie und -politik, WU Vienna University of Economics and Business, Vienna.

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Abstract

This paper presents a simple evolutionary model to study the diffusion patterns of product innovations for consumer goods. Following a Veblenian theme, we interpret consumption as a social activity constrained by social norms and equality of opportunity. Societies that allow for more behavioral variety will experience faster adoption of new consumer goods. We also find that the speed of diffusion as well as the saturation levels reached highly depend on the equality of opportunity. Combining these two effects, we conclude that a social structure displaying behavioral variety and equal opportunities dominates any other social set-up in terms of the speed of adoption of product innovations. (author's abstract)

Item Type: Paper
Keywords: Conspicuous consumption / consumption dynamics / diffusion of consumer goods / social norms / equality of opportunity
Classification Codes: JEL D11, O31
Divisions: Departments > Volkswirtschaft
Depositing User: Repository Administrator
Date Deposited: 09 Sep 2003 17:08
Last Modified: 24 Oct 2014 03:11
URI: http://epub.wu.ac.at/id/eprint/1676

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