A Theory of Market Behavior After Innovation

This paper is a report of a study of innovation of consumer nondurable products. A simple hypothesis about consumer behavior in short run, non-equilibrium situations is presented. Following classical economic methodology, the behavior of individuals is then aggregated. This aggregate equation form is tested and shown to be not rejected by the data. The effect of marketing actions of the firm upon consumer behavior is also explored.

• 저널Management Science · 10(4) · 634–658
• 토픽Economic Theory and Institutions · Economics and Econometrics
• DOI10.1287/mnsc.10.4.634
• 저자George H. Haines