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Ownership patterns for durable goods and financial assets: a Rasch analysis

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  • Geoffrey Soutar
  • Steven Cornish-Ward
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    Abstract

    There has been considerable discussion about the way in which consumers purchase durable and financial products and a number of modelling procedures have been used to examine this issue. The present paper outlines a study that used a new and more general scaling approach (the Rasch model) for this purpose, using a larger than usual set of durable goods, as well as a set of financial products. It was found that both sets of products could be analysed using the Rasch model and that there was an inherent order in the data. Further, respondents in the sample followed the same order, suggesting that examining subgroups, as has been done in the past, would be of little use. A set of respondents' backgroundcharacteristics was also collected that measured people's ability and willingness to purchase. It was found that high levels of ownership were related to people's ability to purchase rather than to their willingness to purchase. This suggests that the macro, rather than the micro, environment is likely to be the key to sales for both categories of products.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics.

    Volume (Year): 29 (1997)
    Issue (Month): 7 ()
    Pages: 903-911

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    Handle: RePEc:taf:applec:v:29:y:1997:i:7:p:903-911

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    Web page: http://www.tandfonline.com/RAEC20

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    Cited by:
    1. Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K., 2004. "Country and consumer segmentation: Multi-level latent class analysis of financial product ownership," Open Access publications from Tilburg University urn:nbn:nl:ui:12-142224, Tilburg University.
    2. Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K., 2003. "Country and Consumer Segmentation: Multi-Level Latent Class Analysis of Financial Product Ownership," Discussion Paper 2003-75, Tilburg University, Center for Economic Research.
    3. Ngwenya, Mthunzi A. & Paas, Leonard J., 2012. "Lifecycle effects on consumer financial product portfolios in South Africa: An exploratory analysis of four ethnic groups," Journal of Economic Psychology, Elsevier, vol. 33(1), pages 8-18.
    4. Ann Yang, 2013. "Decision Making for Individual Investors: A Measurement of Latent Difficulties," Journal of Financial Services Research, Springer, vol. 44(3), pages 303-329, December.
    5. Paas, Leonard J. & Bijmolt, Tammo H.A. & Vermunt, Jeroen K., 2007. "Acquisition patterns of financial products: A longitudinal investigation," Journal of Economic Psychology, Elsevier, vol. 28(2), pages 229-241, April.
    6. Hector J. Villarreal & Ricardo Cantú, . "Do Walmartians Ruled? The political power of an emerging middle class in Mexico," Working Papers 20081, Escuela de Graduados en Administración Pública y Políticas Públicas, Campus Monterrey, revised Jun 2007.
    7. A. Prinzie & D. Van Den Poel, 2007. "Predicting home-appliance acquisition sequences: Markov/Markov for Discrimination and survival analysis for modeling sequential information in NPTB models," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/442, Ghent University, Faculty of Economics and Business Administration.

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