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Mail-Order Demands for Style Goods: Theory and Data Analysis

Author

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  • Warren H. Hausman

    (Graduate School of Management, University of Rochester, Rochester, New York)

  • Richard St.G. Sides

    (Hood Sailmakers, Inc., Marblehead, Massachusetts)

Abstract

A number of alternative data-generating processes are explored for mail-order demands for seasonal style-goods. Weekly demands for 126 items over an 18-week selling season provide the empirical data. Arguments are presented which result in the following candidates for data-generating processes: (1) ratios of successive forecasts are distributed lognormally; (2) ratios of successive forecasts are distributed as t (Student); (3) actual demands during unequal time periods are distributed as negative binomial. Analysis of the data suggests the negative binomial data-generating process as both most closely representing the underlying process and being simple to adapt to a decision model. The paper concludes with an example of the use of the chosen data-generating process in a decision framework, and deals briefly with some issues of implementation.

Suggested Citation

  • Warren H. Hausman & Richard St.G. Sides, 1973. "Mail-Order Demands for Style Goods: Theory and Data Analysis," Management Science, INFORMS, vol. 20(2), pages 191-202, October.
    • Handle: RePEc:inm:ormnsc:v:20:y:1973:i:2:p:191-202
    DOI: 10.1287/mnsc.20.2.191
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    Cited by:

    1. Mostard, Julien & de Koster, Rene & Teunter, Ruud, 2005. "The distribution-free newsboy problem with resalable returns," International Journal of Production Economics, Elsevier, vol. 97(3), pages 329-342, September.

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