Beaded shoes illustrate diffusion: a new beading technology lowers cost; expensive-shoe makers may capture the savings for one season, but over time the aesthetic improvement filters down to mid-range and cheap shoes without higher prices, meaning consumers get more for their money.
causalpending
Speaker
Virginia PostrelEvidence Quote
“that uh aesthetic improvement filters down to the uh the the mid-range shoes... and it's not reflected in higher prices because it's like a competitive industry.”
Created: 6/17/2026, 10:31:39 AM
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