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7 - Deciding to Consume, 1

In General

Published online by Cambridge University Press:  29 June 2023

Cass R. Sunstein
Affiliation:
Harvard University, Massachusetts
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Summary

Contrary to a common picture of relationships in a market economy, people often express communal and membership-seeking impulses via consumption choices, purchasing goods and services because other people are doing so as well. Shared identities are maintained and created in this way. Solidarity goods are goods whose value increases as the number of people enjoying them increases. Exclusivity goods are goods whose value decreases as the number of people enjoying them increases. Distinctions can be drawn among diverse value functions, capturing diverse relationships between the value of goods and the value of shared or unshared consumption. Though markets spontaneously produce solidarity goods, individuals sometimes have difficulty in producing such goods on their own, or in coordinating on choosing them. Here the law has a potential role. There are implications for trend setting, clubs, partnerships, national events, social cascades, and compliance without enforcement.

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Chapter
Information
Decisions about Decisions
Practical Reason in Ordinary Life
, pp. 123 - 143
Publisher: Cambridge University Press
Print publication year: 2023

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  • Deciding to Consume, 1
  • Cass R. Sunstein, Harvard University, Massachusetts
  • Book: Decisions about Decisions
  • Online publication: 29 June 2023
  • Chapter DOI: https://doi.org/10.1017/9781009400480.008
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  • Deciding to Consume, 1
  • Cass R. Sunstein, Harvard University, Massachusetts
  • Book: Decisions about Decisions
  • Online publication: 29 June 2023
  • Chapter DOI: https://doi.org/10.1017/9781009400480.008
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Deciding to Consume, 1
  • Cass R. Sunstein, Harvard University, Massachusetts
  • Book: Decisions about Decisions
  • Online publication: 29 June 2023
  • Chapter DOI: https://doi.org/10.1017/9781009400480.008
Available formats
×