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A Behavioural Analysis of Demand Elasticities

A Behavioural Analysis of Demand Elasticities It is argued on the basis of ideas from personal construct psychology that people feel attached, or desire strongly to become attached, to particular consumption pathways because they judge that to do otherwise would carry implications of a predominantly negative kind with respect to their abilities to make sense of the complex and uncertain world around them. It is noted that informationprocessing problems may make it impossible for consumers to compute the overall implications of alternative strategies when market conditions change. Hence they may use simplifying decision procedures which may conflict with the principle of substitution. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Studies Emerald Publishing

A Behavioural Analysis of Demand Elasticities

Journal of Economic Studies , Volume 13 (3): 18 – Mar 1, 1986

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References (33)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0144-3585
DOI
10.1108/eb002627
Publisher site
See Article on Publisher Site

Abstract

It is argued on the basis of ideas from personal construct psychology that people feel attached, or desire strongly to become attached, to particular consumption pathways because they judge that to do otherwise would carry implications of a predominantly negative kind with respect to their abilities to make sense of the complex and uncertain world around them. It is noted that informationprocessing problems may make it impossible for consumers to compute the overall implications of alternative strategies when market conditions change. Hence they may use simplifying decision procedures which may conflict with the principle of substitution.

Journal

Journal of Economic StudiesEmerald Publishing

Published: Mar 1, 1986

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