Testing evolutionary theory of household consumption behavior in the case of novelty - a product characteristics approach
Kenza Qaoumi (),
Benoit Weil and
Additional contact information
Kenza Qaoumi: CGS - The Center for Management Science, MINES ParisTech
Pascal Masson: CGS - The Center for Management Science, MINES ParisTech
Benoit Weil: CGS - The Center for Management Science, MINES ParisTech
Aytunç Ün: CGS - The Center for Management Science, MINES ParisTech
Journal of Evolutionary Economics, 2018, vol. 28, issue 2, 437-460
Abstract This article tests and extends the evolutionary theory of household consumption behavior, which is an alternative to neoclassical theory. Evolutionary economists offer novel approaches to the analysis of consumption behavior that emphasize the major role of learning in the evolution of consumer preferences and wants. As a possible inspiration for further progress in evolutionary thought, this paper examines the idea of consumer learning by studying the nature of what consumers should learn in the context of ‘novelty’. Our empirical results regarding novelty during the learning process show that consumers learn the ‘new characteristics’ of consumer goods, contrary to the Lancasterian approach, which suggests that the characteristics space of goods is fixed. We show that during the process of consumption, ‘consumer learning’ extends the characteristics space of consumer goods; this phenomenon is far from negligible and differs across product types. Moreover, our results show that the emergence of new characteristics cannot be modeled as a Poisson process because these new characteristics exhibit clear interdependence over time.
Keywords: Evolutionary economics; Novelty; Household consumption behavior; Innovation; Consumer learning (search for similar items in EconPapers)
JEL-codes: E2 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s00191-017-0521-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:joevec:v:28:y:2018:i:2:d:10.1007_s00191-017-0521-9
Ordering information: This journal article can be ordered from
Access Statistics for this article
Journal of Evolutionary Economics is currently edited by Uwe Cantner, Elias Dinopoulos, Horst Hanusch and Luigi Orsenigo
More articles in Journal of Evolutionary Economics from Springer
Bibliographic data for series maintained by Sonal Shukla ().