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Satiated consumers: allocation of consumption time in an affluent society

Fellner, Wolfgang and Seidl, Roman (2015) Satiated consumers: allocation of consumption time in an affluent society. Metroeconomia, 66 (3). pp. 534-563. ISSN 0026-1386

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Based on Ian Steedman's seminal contribution "Consumption Takes Time", we propose a formal activity-based model for consumer behaviour. The model simultaneously incorporates choices over consumption time, as well as quantities and qualities of products consumed. We identify and examine preconditions for satiation with products and draw implications for economic policy. Satiation with products explains the limited effects of price or income changes on demand and questions the pertinence of economic growth for development. It further highlights the relevance of working time reductions for well-being. (authors' abstract)

Item Type: Article
Additional Information: This is the peer reviewed version of the following article: Fellner, W. J. and Seidl, R. J. (2015), Satiated Consumers: Allocation of Consumption Time in an Affluent Society. Metroeconomica, 66: 534-563, which has been published in final form at http://dx.doi.org/10.1111/meca.12080. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.
Keywords: Values / variable quality / multiple equilibria / Engel curves / economic policy
Classification Codes: JEL B52, C30, D01, D04, D11
Divisions: Departments > Sozioökonomie
Version of the Document: Accepted for Publication
Depositing User: ePub Administrator
Date Deposited: 10 Jun 2015 10:32
Last Modified: 05 Aug 2017 12:36
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/71515/
URI: http://epub.wu.ac.at/id/eprint/4561


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