Tackling Keynes’ question: a look back on 15 years of Learning To Consume

Abstract

The view that needs are dynamic and heterogeneous s across a population of consumers also distinguishes this approach from other needs approach found in the social sciences (i.e. Maslow 1943, Max-Neef 1991).

Rethinking the economic possibilities of our grandchildren: what is the future of consumption?

“…Saviotti and Pyka (this issue) develop a macroeconomic model which accounts for previous empirical finding suggesting that demand satiation in certain sectors is relatively unstable (e.g. Moneta and Chai 2014;Bruns and Moneta 2017). Their model highlights how entrepreneurial effort and the structure of the social environment may create the conditions in which it possible for industries to avoid a long term slowdown of the growth of demand.…”

“…Where much of the literature on applied demand analysis models consumption behaviour as function of income and relative prices, LTC-inspired approaches use the concept of demand satiation and evolving preferences to study both the non-homothetic and intertemporal properties of consumer demand and how new innovations may disrupt existing income-consumption patterns. Bruns and Moneta (2017) use German household expenditure data to study how innovations and socioeconomic regimes influence the evolution of Engel Curves. Given that the rate of product innovations appears to be accelerating in markets related to the need for social recognition and novelty, Cooper (this issue) develops a model that considers the welfare effects of fashion cycles.…”

Interdisciplinary and evolutionary perspectives on managing the transition to a sustainable economy

“…To develop effective and evidence-based strategies that help consumers voluntarily act on the deep-seated climate change concerns, more interdisciplinary research is needed to understand the interplay between green public information campaigns, the adherence to social norms and consumer learning processes. In this regard, Evolutionary Economic approaches to studying consumer behaviour can be useful given its focus on the studying various way that consumer's knowledge and preferences adapt to changing market environments (Buenstorf and Cordes 2008;Woersdorfer and Kaus 2011;Witt 2011;Chai 2016;Baum 2016).…”

Hierarchy of Needs and the Measurement of Poverty and Standards of Living

“…Chai (2017) gives here the case of consumers who if "repeatedly exposed to a certain type of bed sheet when they sleep may acquire a liking for such bed sheets that exists independently of how tired they are. "…”