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Consumer Loans in a Process of Diffusion of Innovations - an axiomatic analysis

Author

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  • Beata Cialowicz

    (Department of Mathematics, Cracow University of Economics, Poland)

Abstract

This paper aims in developing and extending a framework for consumer engagement in the innovative evolution. The starting point is a formal model of the Debreu monetary economy for which the process of diffusion of innovations is defined by using a qualitative theory of dynamical systems. In this process consumers, as well as producers, play an active role. Moreover, an essential part of innovative changes are consumer loans which enhance the purchasing power of households and can affect the process of diffusion of innovations and intensify innovative changes in a whole economy.

Suggested Citation

  • Beata Cialowicz, 2020. "Consumer Loans in a Process of Diffusion of Innovations - an axiomatic analysis," Annals of Economics and Finance, Society for AEF, vol. 21(2), pages 393-414, November.
    • Handle: RePEc:cuf:journl:y:2020:v:21:i:2:cialowicz
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    References listed on IDEAS

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    More about this item

    Keywords

    Diffusion of innovations; Arrow-Debreu model; Consumer loan; Neo-Schumpeterian approach;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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