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Helmut-Schmidt-Universität (HSU), Hamburg >
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Diskussionspapiere, Fächergruppe VWL, Helmut-Schmidt-Universität >
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http://hdl.handle.net/10419/23644
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| Title: | | Consumer behavior and the aspiration for conformity and consistency  |
| Authors: | | Göbel, Markus Schneider, Andrea Thomas, Tobias |
| Issue Date: | | 2006 |
| Series/Report no.: | | Diskussionspapier / Helmut-Schmidt-Universität Hamburg, Fächergruppe Volkswirtschaftslehre 57 |
| Abstract: | | The (socio-)psychological concepts of individual aspiration for conformity and consistency are integrated into the rational-choice framework. By using this integrative approach it is shown that after a shock the aspiration for conformity results in an equilibrium which deviates from the homo oeconomicus' behavior towards the consumption of the peer group, whereas the aspiration for consistency leads to the result that the equilibrium consumption is not reached at once. Combining these eects a new consumption path is derived. After a shock the individual consumption converges step-by-step to the new equilibrium consumption. |
| Subjects: | | Consumer behavior consistency conformity habit persistence step-by-step adaptation |
| JEL: | | D91 D11 D01 Z13 |
| Persistent Identifier of the first edition: | | urn:nbn:de:gbv:705-opus-17147 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Diskussionspapiere, Fächergruppe VWL, Helmut-Schmidt-Universität
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