Measuring the Implications of Sales and Consumer Inventory Behavior
促销与消费者库存行为的影响测度
Temporary price reductions (sales) are common for many goods and naturally result in large increases in the quantity sold.Demand estimation based on temporary price reductions may mismeasure the long run responsiveness to prices.In this paper we quantify the extent of the problem and assess its economic implications.We structurally estimate a dynamic model of consumer choice using two years of scanner data on the purchasing behavior of a panel of households.The results…