Construct · 1 fields · 1 citations

characteristics approach to demand: a standalone construct

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Consumer research

the view that consumers value goods for the bundles of characteristics they contain, so demand is derived from preferences over attributes rather than products.

In consumer research, characteristics approach to demand refers to the view that consumers value goods for the bundles of characteristics they contain, so demand is derived from preferences over attributes rather than products. This meaning comes from Lancaster (1966) in Journal of Political Economy.[1]

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Nearby constructs

bundle2 fields · 2 citationsjingle · one word, two carriers demand4 fields · 4 citationsjingle · one word, four constructs value6 fields · 12 citationsjingle · one name, six constructs

References

Lancaster, K. J. (1966). A New Approach to Consumer Theory. Journal of Political Economy, 74(2), 132-157. https://doi.org/10.1086/259131

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