Modeling Luxury Consumption: An Inter-Income Classes Study of Demand Dynamics and Social Behaviors
International audience We start from the observation that theoretical studies of luxury consumption are relatively rare in the economic analysis. In fact, while homothetic preferences simply cannot address the issue of luxury consumption, the use of non-homothetic preferences is restricted, at least...
Main Authors: | , , |
---|---|
Other Authors: | , , , , , , |
Format: | Conference Object |
Language: | English |
Published: |
HAL CCSD
2013
|
Subjects: | |
Online Access: | https://hal.science/hal-01288725 https://hal.science/hal-01288725/document https://hal.science/hal-01288725/file/Abstract%20WEHIA.pdf |
id |
ftunivcotedazur:oai:HAL:hal-01288725v1 |
---|---|
record_format |
openpolar |
spelling |
ftunivcotedazur:oai:HAL:hal-01288725v1 2023-10-09T21:52:46+02:00 Modeling Luxury Consumption: An Inter-Income Classes Study of Demand Dynamics and Social Behaviors Carlin, Anaïs Verel, Sébastien Collard, Philippe Groupe de Recherche en Droit, Economie et Gestion (GREDEG) Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA) Laboratoire d'Informatique, Signaux, et Systèmes de Sophia-Antipolis (I3S) / Groupe SCOBI Modèles Discrets pour les Systèmes Complexes (Laboratoire I3S - MDSC) Laboratoire d'Informatique, Signaux, et Systèmes de Sophia Antipolis (I3S) Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA)-Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA)-Laboratoire d'Informatique, Signaux, et Systèmes de Sophia Antipolis (I3S) Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA)-Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA) Reykjavik, Iceland 2013-06-20 https://hal.science/hal-01288725 https://hal.science/hal-01288725/document https://hal.science/hal-01288725/file/Abstract%20WEHIA.pdf en eng HAL CCSD hal-01288725 https://hal.science/hal-01288725 https://hal.science/hal-01288725/document https://hal.science/hal-01288725/file/Abstract%20WEHIA.pdf info:eu-repo/semantics/OpenAccess 18 th Annual Workshop on the Economic Science with Heterogeneous Interacting Agents (WEHIA) https://hal.science/hal-01288725 18 th Annual Workshop on the Economic Science with Heterogeneous Interacting Agents (WEHIA), Jun 2013, Reykjavik, Iceland https://sites.google.com/site/wehia2013/ Agent-based model Income classes Preference formation Consumption Luxury good [INFO.INFO-MO]Computer Science [cs]/Modeling and Simulation [INFO.INFO-MA]Computer Science [cs]/Multiagent Systems [cs.MA] [QFIN]Quantitative Finance [q-fin] info:eu-repo/semantics/conferenceObject Conference papers 2013 ftunivcotedazur 2023-09-12T22:57:27Z International audience We start from the observation that theoretical studies of luxury consumption are relatively rare in the economic analysis. In fact, while homothetic preferences simply cannot address the issue of luxury consumption, the use of non-homothetic preferences is restricted, at least in standard models, by the absence of consensus about the nature of luxury goods. Using the agent-based computational economics methodology, we, therefore, choose to dene a luxurious item by its ability to display social statute. We, rst, put our analysis in perspective via a short revue of the main contributions about consumption behavior in social context. Through this revue, we identify a few social phenomenons involved in the formation of individual preferences: imitation, diferentiation and innovation. Second, building on these simple social behaviors, we develop a model of luxury preference formation, in which preferences evolve endogenously. Third, we explore the emerging properties of the model, especially, under which conditions we observe a specialization of consumption by social classes. Finally we analyzes the impact of "Veblen eect" on consumption behaviors. Conference Object Iceland HAL Université Côte d'Azur |
institution |
Open Polar |
collection |
HAL Université Côte d'Azur |
op_collection_id |
ftunivcotedazur |
language |
English |
topic |
Agent-based model Income classes Preference formation Consumption Luxury good [INFO.INFO-MO]Computer Science [cs]/Modeling and Simulation [INFO.INFO-MA]Computer Science [cs]/Multiagent Systems [cs.MA] [QFIN]Quantitative Finance [q-fin] |
spellingShingle |
Agent-based model Income classes Preference formation Consumption Luxury good [INFO.INFO-MO]Computer Science [cs]/Modeling and Simulation [INFO.INFO-MA]Computer Science [cs]/Multiagent Systems [cs.MA] [QFIN]Quantitative Finance [q-fin] Carlin, Anaïs Verel, Sébastien Collard, Philippe Modeling Luxury Consumption: An Inter-Income Classes Study of Demand Dynamics and Social Behaviors |
topic_facet |
Agent-based model Income classes Preference formation Consumption Luxury good [INFO.INFO-MO]Computer Science [cs]/Modeling and Simulation [INFO.INFO-MA]Computer Science [cs]/Multiagent Systems [cs.MA] [QFIN]Quantitative Finance [q-fin] |
description |
International audience We start from the observation that theoretical studies of luxury consumption are relatively rare in the economic analysis. In fact, while homothetic preferences simply cannot address the issue of luxury consumption, the use of non-homothetic preferences is restricted, at least in standard models, by the absence of consensus about the nature of luxury goods. Using the agent-based computational economics methodology, we, therefore, choose to dene a luxurious item by its ability to display social statute. We, rst, put our analysis in perspective via a short revue of the main contributions about consumption behavior in social context. Through this revue, we identify a few social phenomenons involved in the formation of individual preferences: imitation, diferentiation and innovation. Second, building on these simple social behaviors, we develop a model of luxury preference formation, in which preferences evolve endogenously. Third, we explore the emerging properties of the model, especially, under which conditions we observe a specialization of consumption by social classes. Finally we analyzes the impact of "Veblen eect" on consumption behaviors. |
author2 |
Groupe de Recherche en Droit, Economie et Gestion (GREDEG) Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA) Laboratoire d'Informatique, Signaux, et Systèmes de Sophia-Antipolis (I3S) / Groupe SCOBI Modèles Discrets pour les Systèmes Complexes (Laboratoire I3S - MDSC) Laboratoire d'Informatique, Signaux, et Systèmes de Sophia Antipolis (I3S) Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA)-Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA)-Laboratoire d'Informatique, Signaux, et Systèmes de Sophia Antipolis (I3S) Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA)-Université Nice Sophia Antipolis (1965 - 2019) (UNS)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA) |
format |
Conference Object |
author |
Carlin, Anaïs Verel, Sébastien Collard, Philippe |
author_facet |
Carlin, Anaïs Verel, Sébastien Collard, Philippe |
author_sort |
Carlin, Anaïs |
title |
Modeling Luxury Consumption: An Inter-Income Classes Study of Demand Dynamics and Social Behaviors |
title_short |
Modeling Luxury Consumption: An Inter-Income Classes Study of Demand Dynamics and Social Behaviors |
title_full |
Modeling Luxury Consumption: An Inter-Income Classes Study of Demand Dynamics and Social Behaviors |
title_fullStr |
Modeling Luxury Consumption: An Inter-Income Classes Study of Demand Dynamics and Social Behaviors |
title_full_unstemmed |
Modeling Luxury Consumption: An Inter-Income Classes Study of Demand Dynamics and Social Behaviors |
title_sort |
modeling luxury consumption: an inter-income classes study of demand dynamics and social behaviors |
publisher |
HAL CCSD |
publishDate |
2013 |
url |
https://hal.science/hal-01288725 https://hal.science/hal-01288725/document https://hal.science/hal-01288725/file/Abstract%20WEHIA.pdf |
op_coverage |
Reykjavik, Iceland |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
18 th Annual Workshop on the Economic Science with Heterogeneous Interacting Agents (WEHIA) https://hal.science/hal-01288725 18 th Annual Workshop on the Economic Science with Heterogeneous Interacting Agents (WEHIA), Jun 2013, Reykjavik, Iceland https://sites.google.com/site/wehia2013/ |
op_relation |
hal-01288725 https://hal.science/hal-01288725 https://hal.science/hal-01288725/document https://hal.science/hal-01288725/file/Abstract%20WEHIA.pdf |
op_rights |
info:eu-repo/semantics/OpenAccess |
_version_ |
1779315950380646400 |