Consumer Sovereign and Consumption Routine: A Reexamination of the Galbraithian Concept of the Dependence Effect

Francis Munier () and Zhao Wang
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Francis Munier: BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique, GRAICO - Groupe de recherche sur l'apprentissage, l'innovation et la connaissance dans les organisations - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar
Zhao Wang: GRAICO - Groupe de recherche sur l'apprentissage, l'innovation et la connaissance dans les organisations - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar, BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique

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Abstract: The aim of this paper is to suggest that the concept of the dependence effect and of the consumer sovereignty, developed by Galbraith, has to be reexamined in a knowledge-based economy. We reconsider these concepts in the light of the consumption routine. In this perspective, the main result of this paper is that the question of market power must be analyzed in terms of interaction between producers and consumers. The limited knowledge role of consumer and producer implies that the power is shared.

Keywords: Consumer sovereignty; Consumption routine; Dependence effect; Knowledge of consumer (search for similar items in EconPapers)
Date: 2006
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Published in Journal of Post Keynesian Economics, 2006, 28 (1), pp.65-82. ⟨10.1080/01603477.2005.11051463⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00279147

DOI: 10.1080/01603477.2005.11051463

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