INTERTEMPORAL SUBSTITUTION AND STORABLE PRODUCTS

• 成果类型: Article
• 署名作者: Hendel, Igal; Nevo, Aviv
• 署名单位: University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research; University of California System; University of California Berkeley
• 刊物名称: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
• ISSN/ISSBN: 1542-4766
• DOI: 10.1162/154247604323068212
• 发表日期: 2004
• 页码: 536-547
• 关键词: brand; MODEL; sales; time

摘要

Storable products allow consumers to time their purchases to exploit price fluctuations. It has been documented that during promotions consumers buy more. The additional purchases are potentially intended not only for current use, but to be stockpiled for future consumption. This paper discusses the predictions of a consumer inventory model and reviews the available evidence. We then discuss the implications for demand estimation and present estimates of the economic magnitude of the dynamic effect of storability. (JEL: L0, L4, D1, D4)