In the next Perspectives on Science seminar, Kármen Kovács (University of Pécs) will give a talk titled “Is early novelty switching beneficial for consumers? The impact of impatience on the consumer utility derived from innovation from a behavioural economic perspective”
The seminar takes place in person at Metsätalo room 10 and online via Zoom from 14:15 to 15:45 on Monday the 29th of April 2024. To join the seminar, please contact samuli.reijula@helsinki.fi for the location or Zoom invitation.
Perspectives on Science is a research seminar which brings together experts from the philosophy of science and several fields of science studies. It is organized by TINT – Centre for Philosophy of Social Science at the University of Helsinki. More information about the seminar can be found on the TINT web page https://tint.helsinki.fi.
Abstract
This research investigates from a behavioural economic perspective the reasons, the manifestations and the consequences of the early purchase of various innovations when consumers have present-biased preferences. The present study aims to analyse how consumers’ impatience influences their utility stream when various innovations are launched with increasing frequency. A simple theoretical model is presented that proceeds on the general form of the hyperbolic discounting utility function. Its purpose is to analyse how consumers’ impatience influences their utility stream derived from purchasing various types of innovations and a potential early novelty switching. The findings show why impatient consumers tend to finance the desired innovation by borrowing. The results indicate how the level of impatience, price level, and added value of innovations influence consumers’ utility stream.
Bio
Kármen Kovács graduated from the University of Pécs, Faculty of Business and Economics in 2002. She defended her PhD dissertation with summa cum laude in 2007; then she habilitated successfully in 2015. She was an assistant professor from September 2008 at the University of Pécs, Faculty of Business and Economics. She has been an associate professor since July 2016 at the Faculty. She has taught academic research and writing, research methods, basic mathematics, innovation management, business economics and behavioural economics. Her major research interest is behavioural economics. For the academic year 2016/17, she received a postdoctoral scholarship from the New National Excellence Program of the Ministry of Human Capacities. She received the János Bolyai Research Fellowship of the Hungarian Academy of Sciences between 2017 and 2020. She has won the Hungarian State Eötvös Scholarship for the academic year 2023/24. She is an Associate Editor of the journal Marketing Intelligence and Planning.