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process consumer behavior has been changing. To explain the driving forces of this development, the paper introduces a theory … of evolving consumer preferences that is molded in an evolutionary paradigm. The theory allows to better assess how …
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This paper adds two elements to a standard model of monopolistic competition: First, the number of potential entrants is limited in each period and increases only over time. Second, the potential entrants differ with respect to the consumers' valuation of the variant they could offer. It is...
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