A note on fashion cycles, novelty, and conformity

Research output: Working paper

Abstract

We develop a model in which novelty and conformity motivate fashion behavior. Fashion cycles occur if conformity is not too high. The duration of fashion cycles depends on individual-specific conformity, novelty, and the number of available styles. The use of individual-specific novelty and conformity allows us to also identify fashion leaders.
Original languageEnglish
PublisherMax Planck Institute of Economics
Number of pages8
Publication statusPublished - 19 Apr 2013

Publication series

NameJena Economic Research Papers
PublisherMax Planck Institute of Economics
ISSN (Print)1864-7057

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