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Emulation, Prevention And Social Interaction In Consumption Dynamics

Author

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  • Francisco Fatás‐Villafranca
  • Dulce Saura
  • Francisco J. Vázquez
Abstract
In this paper we show that the role of diversity, local interactions and global endogenous change at the level of social standards might be crucial in understanding the evolution of consumption patterns in modern economies. We propose an evolutionary model from which consumption dynamics can be analyzed as global properties emerging from the endogenous transformation of a society inhabited by boundedly rational interactive consumers. This work aspires to take a modest step forward in the direction of an evolutionary theory of demand change.

Suggested Citation

  • Francisco Fatás‐Villafranca & Dulce Saura & Francisco J. Vázquez, 2007. "Emulation, Prevention And Social Interaction In Consumption Dynamics," Metroeconomica, Wiley Blackwell, vol. 58(4), pages 582-608, November.
    • Handle: RePEc:bla:metroe:v:58:y:2007:i:4:p:582-608
    DOI: 10.1111/j.1467-999X.2007.00282.x
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    References listed on IDEAS

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    8. Deaton, Angus, 1992. "Understanding Consumption," OUP Catalogue, Oxford University Press, number 9780198288244.
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    11. Aversi, Roberta, et al, 1999. "Demand Dyanmics with Socially Evolving Preferences," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 8(2), pages 353-408, June.
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    Cited by:

    1. Isabel Almudi & Francisco Fatas-Villafranca & Luis R. Izquierdo & Jason Potts, 2017. "The economics of utopia: a co-evolutionary model of ideas, citizenship and socio-political change," Journal of Evolutionary Economics, Springer, vol. 27(4), pages 629-662, September.
    2. Isabel Almudi & Francisco Fatas-Villafranca & Gloria Jarne & Julio Sanchez-Choliz, 2017. "Rethinking Macroeconomic Policy within a Simple Dynamic Model," Metroeconomica, Wiley Blackwell, vol. 68(3), pages 425-464, July.

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