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Consumer behaviour analysis for luxury goods: a technical note for empirical studies/ created by Ignacio Moral-Arce, Stefan Sperlich and Juan M. Rodriguez-Póo

By: Contributor(s): Material type: TextTextSeries: Applied economics letters ; Volume 20, number 4New York: Taylor and Francis, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 13504851
Subject(s): LOC classification:
  • HB1.A666 APP
Online resources: Abstract: Today, many econometric tools are provided for studying consumer expenditures. Less attention has been paid to the fact that, when analysing expenditures for superior goods, these tools have to be adapted to some particularities that have a serious impact on the estimation outcome. First, the considered data, in our case household expenditures for jewellery in Spain, exhibit a strong censoring that must not be ignored. Second, our confidence bands show serious nonlinearities for basically all continuous covariates. Finally, it turns out that especially in the case of luxury goods, one has to control for endogeneity of the covariate ‘total expenditure’.
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Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HB1.A666 APP (Browse shelf(Opens below)) Vol. 20, no.4 (pages 358-363) SP17976 Not for loan For in house use only

Today, many econometric tools are provided for studying consumer expenditures. Less attention has been paid to the fact that, when analysing expenditures for superior goods, these tools have to be adapted to some particularities that have a serious impact on the estimation outcome. First, the considered data, in our case household expenditures for jewellery in Spain, exhibit a strong censoring that must not be ignored. Second, our confidence bands show serious nonlinearities for basically all continuous covariates. Finally, it turns out that especially in the case of luxury goods, one has to control for endogeneity of the covariate ‘total expenditure’.

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