Habit, seasonality, and time aggregation in consumer behaviour
AbstractHabitual behaviour in consumer demand analysis is generally portrayed via some form of a lagged dependent variable model. The purpose of this paper is to explore the implications for habit behaviour of time aggregation. This is done by specifying both habit and seasonal components in demand relations. The results indicate that much of what has traditionally been identified as habitual behaviour is, in fact, seasonal effects.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 33 (2001)
Issue (Month): 13 ()
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- Scott, K. Rebecca, 2012. "Rational habits in gasoline demand," Energy Economics, Elsevier, vol. 34(5), pages 1713-1723.
- Bente Halvorsen & Bodil M. Larsen, 2008. "The Role of Heterogeneous Demand for Temporal and Structural Aggregation Bias," Discussion Papers 537, Research Department of Statistics Norway.
- Silva, Andres & Dharmasena, Senarath, 2013. "Modeling Seasonal Unit Roots as a Simple Empirical Method to Handle Autocorrelation in Demand Systems: Evidence from UK Expenditure Data," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149928, Agricultural and Applied Economics Association.
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