Dong, Diansheng; Schmit, Todd M.; Kaiser, Harry M. - Charles H. Dyson School of Applied Economics and … - 2003
A panel data Tobit model is developed to examine the household purchase process for a frequently purchased commodity … purchasing process using household panel data. The flexible error structure in the model accounts for both state dependence and … household heterogeneity. Empirical findings show that purchase habits of milk persist across households over time, and most of …