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Title:Innovation, income distribution, and product variety PDF Logo
Authors:Vosskamp, Rainer
Issue Date:2009
Series/Report no.:Joint discussion paper series in economics 2009,49
Abstract:On the basis of a modification of K. Lancaster's characteristics approach and a special class of non-homothetic utility functions individual demand functions are derived. Individual demand is determined in a complex way by the income as well as the product qualities and the unit costs of the offered products. It becomes clear that product innovations (changes in product quality), process innovations (changes taxation and redistribution) all influence product variety in a very different way.
income distribution
product variety
Lancaster's characteristics approach
Document Type:Working Paper
Appears in Collections:MAGKS Joint Discussion Paper Series in Economics, Universität Marburg

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