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special issue: The demand for distinction and the evolution of the prestige car

Author

Listed:
  • G.M. Peter Swann

    (Manchester Business School, University of Manchester, Booth Street West, Manchester M15 6PB, UK)

Abstract

This paper studies the demand for a distinction good - the prestige car - and examines how this demand for distinction influences the evolution of the product. We focus on two very different sorts of distinction car: the Rolls Royce and the Ferrari. These two examples help us to articulate two polar approaches to the demand for distinction: distinction through antiquity and distinction through novelty. The paper sets out a model of the demand for distinction, and uses it to describe two trajectories along which the prestige car - and the demand for it - may evolve.

Suggested Citation

  • G.M. Peter Swann, 2001. "special issue: The demand for distinction and the evolution of the prestige car," Journal of Evolutionary Economics, Springer, vol. 11(1), pages 59-75.
    • Handle: RePEc:spr:joevec:v:11:y:2001:i:1:p:59-75
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    Citations

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    Cited by:

    1. Paul Windrum & Steve Thompson & Giuliana Battisti, 2013. "Introduction to the special issue in honour of Peter Swann," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(3), pages 219-221, April.
    2. Jinkuk Kim & Jungsub Yoon & Jeong-Dong Lee, 2021. "Dominant design and evolution of technological trajectories: The case of tank technology, 1915–1998," Journal of Evolutionary Economics, Springer, vol. 31(2), pages 661-676, April.
    3. Caulkins, Jonathan P. & Hartl, Richard F. & Kort, Peter M. & Feichtinger, Gustav, 2007. "Explaining fashion cycles: Imitators chasing innovators in product space," Journal of Economic Dynamics and Control, Elsevier, vol. 31(5), pages 1535-1556, May.
    4. Marco Guerzoni & Rene Soellner, 2013. "Uniqueness Seeking and Demand Estimation in the German Automobile Industry," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 3(2), pages 179-199, December.
    5. Hawkins, Richard & Langford, Cooper H. & Saunders, Chad, 2015. "Assessing the practical application of social knowledge: A survey of six leading Canadian Universities," Research Policy, Elsevier, vol. 44(1), pages 83-95.

    More about this item

    Keywords

    Consumption - Demand - Design - Distinction - Product evolution;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment

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