Gisser, Micha; McClure, James E.; Ökten, Giray; … - Department of Economics, Ball State University - 2008
In Gary Becker’s (1991) theory of bandwagon effects, a portion of market demand is positively sloped. In this, he ignores Harvey Leibenstein’s (1950) hypothesis that market demands for bandwagon goods are everywhere negatively sloped (stemming from scarcity imposed constraints). A...