#2563. Secular satiation

December 2026publication date
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4 total number of authors per manuscript3510 $

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Journal’s subject area:
Economics and Econometrics;
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Abstract:
The article explores a model in which consumers can be satisfied with any given product, but new products can be introduced. The social planner will never take a long-term saturation trajectory. Instead, he will introduce enough new products to avoid such a situation. In contrast, decentralized equilibrium can involve long-term saturation.
Keywords:
Consumer society; Growth; Innovation; Labor supply; Leisure society; Multiple equilibra; New products; Satiation; Strategic complementarities

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