This paper argues in favour of a closer link between decision and forecast evaluation problems. Although the idea of using decision theory for forecast evaluation appears early in the dynamic stochastic programming literature, and has continued to be used in meteorological forecasts, it is...

There exist a variety of reasons for the failure to find a unique cointegrating relationship between economic time series where one would normally be expected on economic theory grounds. Among these are the testing procedure (e.g., Engle and Granger (1987) or Johansen (1991), the span of the...

Examines a study carried out on the acquisition of consumer durables by a selection of English households. Reveals the class structure of ownership, the proportion of first acquisitions and replacements, and the reasons for timing. Presents an analysis based on the returns of 548 households...

Presents here a theoretical model study based on the results of an empirical study, which relates brand shares to price differences in a fully quantitative fashion. Posits in its present form that it is applicable to the analysis of markets largely dominated by two brands. States that the model...

The authors report on an enquiry they carried out in Nottingham, to determine the extent to which housewives are conscious of the price of an article at the time of its purchase. They find that for many of the fifteen grocery products covered, a high proportion of housewives were aware of the...

Even the best advertising campaign may fail if the price of the product is not appropriate, yet retail prices are still determined more by rules of thumb than systematic study.

I. Introduction It is generally accepted that price may enter into the determination of consumers' choice in two ways: as an indicator of cost and as an indicator of quality. Contemporary demand theory rests heavily on the first of these two functions while the second tends to be treated as if...

It is stated in a recent commercial publication that of a set of products test marketed in the course of recent years, 20 per cent of the failures was mainly due to the price and the product not being well matched. While the statistical evidence presented appears to be rather too slender to...

Introduction This paper is a report on an experimental study of consumers' behaviour and on a new theory of choice between close substitutes which we developed from the indications of the results obtained. The theory is not in disharmony with the commonly accepted tenets of the fundamental...