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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2511

Title: On Positional Consumption and Technological Innovation - an Agent-based Approach
Authors: Bernardino, João
Araújo, Tanya
Keywords: Positional consumption
innovation
agent-based models
Robert Prank
Issue Date: 2010
Publisher: ISEG – Departamento de Economia
Citation: Bernardino, João e Tanya Araújo. 2010. "On Positional Consumption and Technological Innovation - an Agent-based Approach". Instituto Superior de Economia e Gestão - DE Working papers nº 4-2010/DE/UECE
Series/Report no.: DE Working papers;nº 4-2010/DE/UECE
Abstract: Positional behavior is a source of externalities and sets limits to wellbeing. Remedies against this market failure are defended by some authors and rejected by others, while the core of the discussion rests on the benefits and costs of applying economic instruments. One of the issues discussed is the role that the competition for positional goods may have in generating technological innovation. This paper aims to contribute to the understanding of this process by analyzing an agent-based model. We observe a plausible structure of the dynamics behind the process of generation of technological innovation by positional consumption and obtain results on the influence of some key factors on the pace of innovation, particularly those of income inequality, the Hirsch conjecture of relative increase of positional consumption with affluence, and consumer network and social neighborhood sizes.
URI: http://hdl.handle.net/10400.5/2511
ISSN: 0874-4548
Publisher version: http://aquila2.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=94307
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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