The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Dynamics of Consumer Demand for New Durable Goods
Abstract
Most new consumer durable goods experience rapid prices declines and quality improvements, suggesting the importance of modeling dynamics. This paper specifies a dynamic model of consumer preferences for new durable goods with persistently heterogeneous consumer tastes, rational expectations, and repeat purchases over time. We estimate the model on the digital camcorder industry using panel data on prices, sales, and characteristics. We find that the 1-year elasticity in response to a transitory industrywide price shock is about 25 percent less than the 1-month elasticity. Standard cost-of-living indices overstate welfare gain in later periods due to a changing composition of buyers.
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Cites
Advertising, learning, and consumer choice in experience good markets: An empirical examination
Ackerberg, D. A. (2003) · International Economic Review · doi:10.1111/1468-2354.t01-2-00098 · Cited by 476
Brand and Quantity Choice Dynamics Under Price Uncertainty
Erdem, T., Imai, S., & Keane, M. P. (2003) · Quantitative Marketing and Economics · doi:10.1023/a:1023536326497 · Cited by 331
Cited by
Hoagland, A., & Kipping, S. (2024) · Canadian Journal of Cardiology · doi:10.1016/j.cjca.2024.02.014 · Cited by 68
Metadata
- Authors
- Gowrisankaran, G., & Rysman, M.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2012-12
- Volume
- 120
- Issue
- 6
- Pages
- 1173-1219
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W3124686539
- Cited by
- 322
- References
- 2
- FWCI
- 66.73
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
