Arbeitspapier
Sales and consumer inventory
Temporary price reductions (sales) are common for many goods and naturally result in a large increase in the quantity sold. We explore whether the data support the hypothesis that these increases are, at least partly, due to dynamic consumer behavior: at low prices consumers stockpile for future consumption. This effect, if present, has broad economic implications. We construct a dynamic model of consumer choice, use it to derive testable predictions and test these predictions using two years of scanner data on the purchasing behavior of a panel of households. The results support the existence of household stockpiling behavior and suggest that static demand estimates may overestimate price sensitivity.
- Sprache
-
Englisch
- Erschienen in
-
Series: CSIO Working Paper ; No. 0061
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hendel, Igal
Nevo, Aviv
- Ereignis
-
Veröffentlichung
- (wer)
-
Northwestern University, Center for the Study of Industrial Organization (CSIO)
- (wo)
-
Evanston, IL
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Hendel, Igal
- Nevo, Aviv
- Northwestern University, Center for the Study of Industrial Organization (CSIO)
Entstanden
- 2004
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