Technical Note—A Price Vector Model of Demand for Consumer Durables: Preliminary Developments
AbstractAlthough considerable research has been conducted on optimal pricing policies for manufacturers, relatively little work has been done on how price enters the consumer choice process. In this paper, a model is developed for durables purchasing which integrates both economic and behavioral research by specifying a vector of five price concepts which affect purchasing behavior. Of particular interest are variables relating to future price expectations. Due to data limitations, a revised model is estimated and the results provide preliminary support for the general model.
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Bibliographic InfoArticle provided by INFORMS in its journal Marketing Science.
Volume (Year): 4 (1985)
Issue (Month): 1 ()
pricing; durables; consumer demand; price expectations;
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- Yasemin Boztug & Lutz Hildebrandt, 2005. "An empirical test of theories of price valuation using a semiparametric approach, reference prices, and accounting for heterogeneity," SFB 649 Discussion Papers SFB649DP2005-057, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
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