A Theory of Fashion Based on Segmented Communication

Fashion is a popular style of behavior at a given time or place. In this paper we model fashion as a dynamic phenomenon, characterized by fragility of mass behavior and life cycles. Conformity of behavior is generated by a consumption externality, while the typical intertemporal aspects of fashions are the outcome of segmented communication: knowledge about available actions is imperfect and there exists social segregation in the way knowledge is generated and transmitted. The proposed approach is consistent with views of sociologists and marketing experts about fashion. 1 INTRODUCTION 3 1 Introduction Fashions are popular patterns of behavior adopted by individuals for a particular time and situation. The nature of the behavior may be very diverse: wearing special clothes, going to particular restaurants, travelling to certain holiday places, living in given neighborhoods. Indeed fashion-oriented behavior has even been identified with intellectual pursuits of science, literature, ..