EconPapers    
Economics at your fingertips  
 

The impact of market innovations on the evolution of norms: the sustainability case

Stephan Müller () and Georg von Wangenheim
Additional contact information
Georg von Wangenheim: University of Kassel

MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)

Abstract: That institutions matter is widely accepted among economists and so are social norms as an important category of informal institutions. Social norms matter in many economic situations, but in particular for markets. The economic literature has studied the interrelation between markets and social norms in both directions – how social norms affect markets and how markets affect social norms. Starting from these two perspectives, we add to the literature, by suggesting a new link between product markets and the evolution of social norms: we analyze how the evolution of a social norm may be affected by a product innovation which adds to the variation of products with respect to their level of norm compliance. We derive necessary and sufficient conditions for a) a positive impact of the innovation on the level of norm adoption and b) for multiplicity of norm equilibria. Finally we discuss policy implications.

Keywords: Consumer; Behavior; ; Social; Norms; ; Evolutionary; Economics; ; Sustainability; ; Innovation (search for similar items in EconPapers)
JEL-codes: A13 D02 D11 Q01 Q55 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-cse, nep-evo, nep-hme, nep-hpe, nep-ino and nep-soc
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Forthcoming in

Downloads: (external link)
http://www.uni-marburg.de/fb02/makro/forschung/magkspapers/32-2012_mueller.pdf First 201432 (application/pdf)

Related works:
Working Paper: The impact of market innovations on the evolution of norms: the sustainability case (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mar:magkse:201432

Access Statistics for this paper

More papers in MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung) Contact information at EDIRC.
Bibliographic data for series maintained by Bernd Hayo ().

 
Page updated 2024-02-27
Handle: RePEc:mar:magkse:201432