Brand and Quantity Choice Dynamics Under Price Uncertainty

Erdem, T; Imai, S; Keane, M

Brand and Quantity Choice Dynamics Under Price Uncertainty

Erdem, T Imai, S Keane, M

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Publisher:: Springer
Publication Type:: Journal Article
Citation:: Quantitative Marketing and Economics, 2003, 1 (1), pp. 5 - 64
Issue Date:: 2003-01

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Field	Value	Language
dc.contributor.author	Erdem, T	en_US
dc.contributor.author	Imai, S	en_US
dc.contributor.author	Keane, M	en_US
dc.date.issued	2003-01	en_US
dc.identifier.citation	Quantitative Marketing and Economics, 2003, 1 (1), pp. 5 - 64	en_US
dc.identifier.issn	1570-7156	en_US
dc.identifier.uri	http://hdl.handle.net/10453/5196
dc.description.abstract	We develop a model of household demand for frequently purchased consumer goods that are branded, storable and subject to stochastic price fluctuations. Our framework accounts for how inventories and expectations of future prices affect current period purchase decisions. We estimate our model using scanner data for the ketchup category. Our results indicate that price expectations and the nature of the price process have important effects on demand elasticities. Long-run cross price elasticities of demand are more than twice as great as short-run cross price elasticities. Temporary price cuts (or deals) primarily generate purchase acceleration and category expansion, rather than brand switching.	en_US
dc.publisher	Springer	en_US
dc.relation.ispartof	Quantitative Marketing and Economics	en_US
dc.relation.isbasedon	10.1023/A:1023536326497	en_US
dc.subject.classification	Marketing	en_US
dc.title	Brand and Quantity Choice Dynamics Under Price Uncertainty	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.for	150505 Marketing Research Methodology	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	1505 Marketing	en_US
dc.location.activity	Kowloon, PEOPLES R CHINA
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US
pubs.issue	1	en_US
pubs.volume	1	en_US

Abstract:

We develop a model of household demand for frequently purchased consumer goods that are branded, storable and subject to stochastic price fluctuations. Our framework accounts for how inventories and expectations of future prices affect current period purchase decisions. We estimate our model using scanner data for the ketchup category. Our results indicate that price expectations and the nature of the price process have important effects on demand elasticities. Long-run cross price elasticities of demand are more than twice as great as short-run cross price elasticities. Temporary price cuts (or deals) primarily generate purchase acceleration and category expansion, rather than brand switching.

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http://hdl.handle.net/10453/5196