In our model, individual consumers follow simple behavioral decision rules based on imitation and habit as suggested in consumer research, social learning, and related fields. Demand can be viewed as the outcome of a population game whose revision protocol is determined by the consumers'...

In a duopoly market, aspiration levels express how much sellers want to earn given their expectations about the other's behavior. We augment the sellers' decision task by eliciting their profit aspiration. In a first experimental phase, whenever satisficing is not possible, sales choices, point...

Genaue Prognosen von Absatzmöglichkeiten und Marktpotenzialen für Innovationen können heute ein entscheidender Faktor sein, um sich auf dem Markt zu behaupten. Ein verspäteter Markteintritt kann gravierende Auswirkungen auf den Umsatz und somit auf den Erfolg des Unternehmens haben. Dieser...

The Berry, Levinsohn, and Pakes (1995, BLP) model is widely used to obtain parameter estimates of market forces in differentiated product markets. The results are often used as an input to evaluate economic activity in a structural model of demand and supply. Precise estimation of parameter...

This paper investigates the Information content of daily trading volume with respect to the long-run or high persistent and the short-run or transitory components of the volatility of daily stock market returns using bivariate mixture models. For this purpose, the Standard bivariate mixture...