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Hierarchically Structured Consumer Choice in Evolutionary Economics EAEPE’2009 Annual Conference, Amsterdam 7 November  2009 Pavel Luksha  (University of Hertfordshire, UK &  Institute of Economics, Russia) Vladimir Maevsky (Institute of Economics, Russia)
Modelling human choice ,[object Object],[object Object],[object Object]
No real remedy for utility function ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Hierarchical decision making ,[object Object],[object Object],[object Object]
HDM & economic choices ,[object Object],[object Object],[object Object],[object Object]
(Intermediate) conclusion ,[object Object],[object Object],[object Object]
Consumer choices ,[object Object],[object Object]
Hierarchically structured  consumer choice process … .  ….. goods class:  e.g., durable goods goods category:  e.g., TV-sets sub-category:  e.g., plasma panels sub-sub-category:  e.g., size
Evolution of consumption:  individual level variety of  concrete goods  for consumer incentives  for revision existing set   X new set   X’ social  pressures economic pressures ‘ internal’ pressures peer comparison experts advertising price changes budget changes curiousity tiredness /  loss of interest key effects : -  Veblenian -  bandwagon -  snob evolutionary variation of concrete goods in the consumption set
Coevolution dynamics (1): product categories ,[object Object],[object Object],[object Object],[object Object]
Coevolution dynamics (2): variety in consumer and producer populations ,[object Object],[object Object],[object Object],[object Object]
Hierarchically based consumer choices in evolution of industries  ,[object Object],[object Object]

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Hierarchical decision making for evolutionary economics

  • 1. Hierarchically Structured Consumer Choice in Evolutionary Economics EAEPE’2009 Annual Conference, Amsterdam 7 November 2009 Pavel Luksha (University of Hertfordshire, UK & Institute of Economics, Russia) Vladimir Maevsky (Institute of Economics, Russia)
  • 2.
  • 3.
  • 4.
  • 5.
  • 6.
  • 7.
  • 8. Hierarchically structured consumer choice process … . ….. goods class: e.g., durable goods goods category: e.g., TV-sets sub-category: e.g., plasma panels sub-sub-category: e.g., size
  • 9. Evolution of consumption: individual level variety of concrete goods for consumer incentives for revision existing set X new set X’ social pressures economic pressures ‘ internal’ pressures peer comparison experts advertising price changes budget changes curiousity tiredness / loss of interest key effects : - Veblenian - bandwagon - snob evolutionary variation of concrete goods in the consumption set
  • 10.
  • 11.
  • 12.