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Consumer heterogeneity and the shape of purchase rate functions

✍ Scribed by Vakratsas, Demetrios

Publisher
John Wiley and Sons
Year
1998
Tongue
English
Weight
103 KB
Volume
14
Category
Article
ISSN
8755-0024

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✦ Synopsis

This study suggests that non-monotonic purchase rates, frequently observed in empirical studies of consumer purchase timing, can be an artifact of consumer heterogeneity. We use a theoretical purchase timing model with consumer heterogeneity to develop market scenarios under which non-monotonic rates may obtain. The results suggest that non-monotonic rates are more likely to observe in product markets that are either highly concentrated or where the heavy buyer segment is large. In such markets, therefore, one should not rely on non-monotonic rate curves to predict household purchase incidence. 1998 John Wiley & Sons, Ltd.

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