We develop a model of household demand for frequently purchased consumer goods that are branded, storable and subject to stochastic price fluctuations. Our framework accounts for how inventories and expectations of future prices affect current period purchase decisions. We estimate our model...

We develop an empirical model for the adoption process of a new durable product that accounts for consumer heterogeneity as well as consumers” forward-looking behavior. Accounting for heterogeneity is important for two reasons. As the mix of consumers with different preferences and price...

Purpose – The purpose of this paper is to perform an analysis of potential benefits from usage of the futures markets for the farmers. The national commodity exchanges were established in India in the year 2003-2004. Though there has been a spectacular growth in trading volumes in these...

Price in agricultural supply equations is usually the expected price. In general, models of agricultural supply response assume that their representation of producer expectations is correct. If this assumption is wrong, the supply response parameter will have embodied within it an estimate of...

Governments provide public information to reduce information imperfections. Do households rely on public signals to inform themselves about market conditions? To identify the importance of public information in households' price expectations, we take advantage of a unique natural experiment in...

I show theoretically that applying the model of Kőszegi and Rabin (2006) to a simple purchasing decision where consumers are ex ante uncertain about the price realisation, gives – when changing the underlying distribution of expected prices – rise to counterintuitive predictions in contrast...

An adaptive regression model is used to examine the relative importance of cash and government support prices in determining cotton production over time. The results show that the cash price is more important as a source of price information for cotton producers than the government program...

The objective of the paper is to simulate the corporate value of Champagne makers by taking into account the Champagne market evolution. These measurements are conducted by linking financial debt, performance and valuation to a vertical coordination model of production-consumption within a...

A method of analyzing rationality of expectations of economic agents, based on contingency tables, is applied to price expectations of Polish industrial enterprises. The source of data are surveys designed by the Economic Development Institute of the Warsaw School of Economics within the...

RESUMEN: La diferencia temporal existente entre la planificación de la oferta y la demanda de productos agrarios, conlleva a que, tradicionalmente, en sectores como el de frutas y hortalizas cobren gran interés las teorías sobre formación de expectativas de precios. En las últimas décadas,...