Consumer Durables and Inertial Behaviour PDF Download
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Author: Orazio P. Attansio
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
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Book Description
Author: Orazio P. Attansio
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
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Book Description
Author: Orazio P. Attanasio
Publisher:
ISBN:
Category : Automobile industry and trade
Languages : en
Pages : 60
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Book Description
This paper presents an (S, s) model for automobile consumption and estimates it using a data set of US households. The model allows for unobserved heterogeneity in both the target level and the band width, takes into account the possibility of a zero desired level, constrains the band to be non negative and allows asymmetric bands. The model is estimated on a novel data set which contains information on both stock values and automobile expenditure for a large number of households observed over a period of a year. The (S, s) rule is specified in terms of the ratio of car stock to non durables. The shortcuts usually employed in the empirical literature on (S, s) rules can be avoided thanks to the richness of the data set and the rigorous specification of the stochastic model. Having estimated the model and considered `goodness of fit' measures, aggregation issues are considered. First, the paper presents a number of negative results. Then, several simulations aimed at evaluating the effects induced by inertial behavior on aggregate dynamics are considered.
Author:
Publisher: Springer
ISBN: 1349588024
Category : Law
Languages : en
Pages : 7493
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Book Description
The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Author: Giuseppe Bertola
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 52
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Book Description
Author:
Publisher: Elsevier
ISBN: 0323915140
Category : Social Science
Languages : en
Pages : 788
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Book Description
Handbook of Industrial Organization, Volume Four highlights new advances in the field, with this new volume presenting interesting chapters written by an international board of expert authors. - Presents authoritative surveys and reviews of advances in theory and econometrics - Reviews recent research on capital raising methods and institutions - Includes discussions on developing countries
Author: Christopher Tsoukis
Publisher: Oxford University Press
ISBN: 0192559214
Category : Business & Economics
Languages : en
Pages : 512
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Book Description
Theory of Macroeconomic Policy reviews the theoretical foundations of macroeconomic, fiscal, and monetary, policy. It offers a panoramic view of macroeconomic theory, covering a wide range of topics that are not customarily dealt with in macroeconomics texts, as well as more standard material. Advanced theory is bridged with more elementary or intermediate material, and established models are reviewed alongside current research directions. There is an extensive review of empirical evidence on virtually every topic, supplemented by narrative accounts for various episodes. The policy implications of the various theories are emphasised throughout. The chapters are largely self-contained so that different courses can focus at different places. A 'Guidance for Further Study' Section and extensive bibliography give plenty of ideas for all levels of independent study, from Undergraduate Projects to MSc Dissertations to PhD Theses. Theory of Macroeconomic Policy presents a balance between: breadth as well as depth; analytical treatment and intuition; theory and evidence; vintage theories and current directions; theory and policy; (established) theory and debate. Theory of Macroeconomic Policy is an affirmation that there is a well-developed body of theory that is invaluable for an in-depth understanding of the macro-economy and policy; equally, there is much scope for critical discussion and debate.
Author: Tullio Jappelli
Publisher: Oxford University Press
ISBN: 0199383154
Category : Business & Economics
Languages : en
Pages : 313
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Book Description
In The Economics of Consumption, Tullio Jappelli and Luigi Pistaferri provide a comprehensive examination of the most important developments in the field of consumption decisions and evaluate economic models against empirical evidence.
Author: Jerome Adda
Publisher: MIT Press
ISBN: 0262547880
Category : Business & Economics
Languages : en
Pages : 297
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Book Description
An integrated approach to the empirical application of dynamic optimization programming models, for students and researchers. This book is an effective, concise text for students and researchers that combines the tools of dynamic programming with numerical techniques and simulation-based econometric methods. Doing so, it bridges the traditional gap between theoretical and empirical research and offers an integrated framework for studying applied problems in macroeconomics and microeconomics. In part I the authors first review the formal theory of dynamic optimization; they then present the numerical tools and econometric techniques necessary to evaluate the theoretical models. In language accessible to a reader with a limited background in econometrics, they explain most of the methods used in applied dynamic research today, from the estimation of probability in a coin flip to a complicated nonlinear stochastic structural model. These econometric techniques provide the final link between the dynamic programming problem and data. Part II is devoted to the application of dynamic programming to specific areas of applied economics, including the study of business cycles, consumption, and investment behavior. In each instance the authors present the specific optimization problem as a dynamic programming problem, characterize the optimal policy functions, estimate the parameters, and use models for policy evaluation. The original contribution of Dynamic Economics: Quantitative Methods and Applications lies in the integrated approach to the empirical application of dynamic optimization programming models. This integration shows that empirical applications actually complement the underlying theory of optimization, while dynamic programming problems provide needed structure for estimation and policy evaluation.
Author: Robert East
Publisher: SAGE
ISBN: 1446241858
Category : Business & Economics
Languages : en
Pages : 345
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Book Description
'A wonderful (and very unusual) balance between areas of marketing that are often at odds with each other (or, worse yet, unaware of each other)... I recommend it to any student, researcher, or manager in marketing' Peter Fader, Frances and Pei-Yuan Chia Professor; and Professor of Marketing, Wharton School, University of Pennsylvania 'Exceptional for the amount of relevant research that is presented and explained. Students who have read and understood this text are likely to be much more of use to industry' Fergus Hampton, Managing Director, Millward Brown Precis Written in a focused and accessible form by respected marketing academics, Consumer Behaviour helps readers to develop analytical and evidence-based thinking in marketing and avoid more formulaic approaches that lack the support of research. With a strong focus on the use of research, this book will really appeal to the specific needs of higher-level students. The book covers important material that is often missing in consumer behaviour texts. For example, whole chapters are devoted to brand loyalty, brand equity, biases in decision-making, word of mouth, the response to price and the effect of advertising. Shorter reviews cover evidence on topics such as loyalty programmes, the response to delay and retail atmospherics. Chapters are quite short and divided into sections. Each chapter contains exercises designed to draw out key ideas and consolidate understanding, and there are suggestions for further reading. A website to support the book has an Instructor's Manual that offers PowerPoint slides, discussion of exercises, computer programs, a suggested Masters-level course, and a Word file of references to assist students writing assignments.
Author: Xuanming Su
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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Book Description
This paper introduces a model to capture the behavioral phenomenon of inertia in inter-temporal consumer purchase decisions. We define inertia as the inherent tendency to refrain from making any purchase. This is represented by a utility premium that is required to trigger purchases. Inertia may induce consumers to wait even when it is optimal to buy immediately. We show that our model of inertia is consistent with well-established behavioral regularities, such as loss aversion and probability weighting in the sense of prospect theory, and hyperbolic time preferences.We embed this decision model within a dynamic pricing context. The firm has a fixed capacity of a particular product and sells it over two time periods to a market consisting of both rational and inertial consumers. We find that the depth of inertia (i.e., strength of inertial effects) always hurts seller profits but the breadth of inertia (i.e., the proportion of inertial consumers) may sometimes be beneficial. We offer practical recommendations for firms to influence both depth and breadth of consumer inertia.
