Consumer Loans in a Process of Diffusion of Innovations - an axiomatic analysis

Beata Cialowicz ()

Annals of Economics and Finance, 2020, vol. 21, issue 2, 393-414

Abstract: This paper aims in developing and extending a framework for consumer engagement in the innovative evolution. The starting point is a formal model of the Debreu monetary economy for which the process of diffusion of innovations is defined by using a qualitative theory of dynamical systems. In this process consumers, as well as producers, play an active role. Moreover, an essential part of innovative changes are consumer loans which enhance the purchasing power of households and can affect the process of diffusion of innovations and intensify innovative changes in a whole economy.

Keywords: Diffusion of innovations; Arrow-Debreu model; Consumer loan; Neo-Schumpeterian approach (search for similar items in EconPapers)
JEL-codes: C6 D11 D50 O30 O31 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:cuf:journl:y:2020:v:21:i:2:cialowicz

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