A bayesian approach to time-varying cross-sectional regression models

This paper presents a Bayesian approach to regression models with time-varying parameters, or state vector models. Unlike most previous research in this field the model allows for multiple observations for each time period. Bayesian estimators and their properties are developed for the general case where the regression parameters follow an ARMA(s,q) process over time. This methodology is applied to the estimation of time-varying price elasticity for a consumer product, using biweekly sales data for eleven domestic markets. The parameter estimates and forecasting performance of the model are compared with various alternative approaches.     

Modeling Marketing Dynamics by Time Series Econometrics

This paper argues that time-series econometrics provides valuable tools and opens exciting research opportunities to marketing researchers. It allows marketing researchers to advance traditional modeling and estimation approaches by incorporating dynamic processes to answer new important research questions. The authors discuss the challenges facing time-series modelers in marketing, provide an overview of recent methodological developments and several applications, and highlight fruitful areas for future research. This discussion is based on the First Annual Conference on Modeling Marketing Dynamics by Time Series Econometrics at the Tuck School of Business at Dartmouth, Hanover, New Hampshire, USA on September 16–17, 2004.Insights from the First Annual Conference, Tuck School of Business at DartmouthThis revised version was published online in May 2005 with a corrected cover date.     

Opportunities for Revitalizing Stagnant Markets: An Analysis of Household Appliances

For many durable consumer products, the conditions needed for sustained growth in sales seem to have disappeared. Some of these products have reached saturation levels of ownership; others seem to have plateaued at lower levels of ownership. The authors of this article, Professors Clark, Freeman, and Hanssens, have taken a multidisciplinary approach to the analysis of one portion of the consumer durables market—household appliances—to detect the underlying components of demand. They speculate on how these demand components will fare in the coming years and draw implications for the way these markets can be stimulated.     

Measuring long-run marketing effects and their implications for long-run marketing decisions

This paper discusses the role of agents’ beliefs and their implications for the economic modeling of their behavior, in particular, their behavior over time. The paper also discusses the corresponding planning problems facing both firms and consumers in their current decision making. After a general discussion of the consumer and firm problem, we discuss recent examples of some of the emerging empirical literature on dynamic choice behavior in marketing.     

The past,present, and future of measurement and methods in marketing analysis

Marketing Letters - The field of marketing has made significant strides over the past 50 years in understanding how methodological choices affect the validity of conclusions drawn from our...