Modeling purchases as repeated events
AbstractWe put forward a statistical model for interpurchase times thattakes into account all the current and past information availablefor all purchases as time continues to run along the calendartimescale. It delivers forecasts for the number of purchases inthe next period and for the timing of the first and consecutivepurchases. Purchase occasions are modeled in terms of a countingprocess, which counts the recurrent purchases for each householdas they evolve over time. We show that formulating the problem asa counting process has many advantages, both theoretically andempirically. We illustrate our model for yogurt purchases and wehighlight its useful managerial implications.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Erasmus University Rotterdam, Econometric Institute in its series Econometric Institute Report with number EI 2003-45.
Date of creation: 01 Jan 2003
Date of revision:
Contact details of provider:
Web page: http://www.few.eur.nl/few
Cox model; counting process; purchase timing; repeated events; unobserved heterogeneity;
Other versions of this item:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Govert Bijwaard, 2012.
"Unobserved Heterogeneity in Multiple-Spell Multiple-States Duration Models,"
Norface Discussion Paper Series
2012033, Norface Research Programme on Migration, Department of Economics, University College London.
- Bijwaard, Govert, 2011. "Unobserved Heterogeneity in Multiple-Spell Multiple-States Duration Models," IZA Discussion Papers 5748, Institute for the Study of Labor (IZA).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anneke Kop).
If references are entirely missing, you can add them using this form.