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Elasticities of Substitution in Real Business Cycle Models with Home Production.
Campbell, J.Y.; Ludvigson, S. - Harvard Institute of Economic Research (HIER), … - 2000
elasticity of substitution in market consumption (IES) and the static elasticity of substitution between home and market … consumption (SES). Understanding this connection is important because there is a large body of empirical evidence suggesting that …
Persistent link: https://www.econbiz.de/10005245628
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Behavioural Heterogeneity and the Income Effect.
Calvet, L.E.; Comon, E. - Harvard Institute of Economic Research (HIER), … - 2000
Inspired by the recent literature on aggregation theory, this paper introduces HITS, a semiparametric model of consumer demand that allows for diversity in tastes. The strong variation of budget shares observed aacross income strata can arise from two economic factors: the individual income...
Persistent link: https://www.econbiz.de/10005245641
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A Logit Model of Laudry Detergent Brand Choice in Melbourne.
Fry, T.R.L.; Longmire, R. - Department of Econometrics and Business Statistics, … - 1996
The Consumer Panel of Australia data collected by the Roy Morgan Research Centre is used to investigate the determinantes of brand choice behavior in the laundry detergent market.
Persistent link: https://www.econbiz.de/10005087590
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Measuring Consumer Surplus with Unknown Hicksian Demands.
Irvine, L.J.; Sims, W.A. - School of Economics, Faculty of Arts and Social Sciences - 1995
Persistent link: https://www.econbiz.de/10005775671
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Modelling Aggregate Consumption Expenditure and Income Distribution Effects
Hildenbrand, W; Kneip, A - Catholique de Louvain - Institut de statistique - 1996
The paper is about the economic modelling of aggregate consumption expenditure with particular emphasis on the … stability") we shall derive a first order approximation for the change in the aggregate consumption ratio. This approximation … allows to analyze whether and how the distribution effect on income affects the aggregate consumption ratio. …
Persistent link: https://www.econbiz.de/10005776106
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Model Specification Issues in Consumer Demand Systems Using United States Microdata.
Nicol, C.J. - Department of Economics, University of Regina - 1995
Persistent link: https://www.econbiz.de/10005776581
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How Consumers Decide to Adopt New Products: A Descriptive Model.
Klophaus, R. - 1996
A descriptive model of boundedly rational adoption behavior of consumers is developed. This model is based on prospect theory proposed by Kahneman and Tversky and on the discrepancy model, an adaptive learning model, often used in social psychology. It is shown that a normative model of rational...
Persistent link: https://www.econbiz.de/10005780034
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Switching Costs or Search Costs?.
Moshkin, N.; Shachar, R. - Foerder Institute for Economic Research, Eitan Berglas … - 2000
One of the most significant and robust characteristics of decision making is persistence. An example of this is brand loyalty -- the repeat purchase of new products of the same brand. This paper attempts to show that previous explanations of this phenomenon (switching costs, habit and unobserved...
Persistent link: https://www.econbiz.de/10005675404
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Econometric Modeling of Differential Durable Goods Markets: an Application to Telephone.
Foncel, J.; Ivaldi, M. - Groupe de Recherche en Économie Mathématique et … - 1999
As the structure of consumer preferences plays a crucial role in the analysis of differentiated product markets, estimation of demand systems is a sensitive task. This paper contributes to this project in two ways. First, we develop a method to deal with the simultaneous choice of an equipment...
Persistent link: https://www.econbiz.de/10005486544
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A Note on the Interpretation of the Rational Addiction Model.
Ferguson, B - Department of Economics and Finance, College of … - 1996
The Rational Addiction Model of Becker and Murphy (1988) has become a standard tool in the analysis of the demand for drugs, cigarettes, alcohol and other potentially addictive goods. In this paper, we shall argue that the success of the model has been more apparent than real, and that its...
Persistent link: https://www.econbiz.de/10005545260