The authors put forward a sales response model to explain the differences in immediate and dynamic effects of promotional prices and regular prices on sales. The model consists of a vector autoregression rewritten in error-correction format which allows to disentangle the immediate effects from...

In this paper, we develop a general method for heterogeneous variable selection in Bayesian nonlinear panel data models. Heterogeneous variable selection refers to the possibility that subsets of units are unaffected by certain variables. It may be present in applications as diverse as health...

Experts can rely on statistical model forecasts when creating their own forecasts. Usually it is not known what experts actually do. In this paper we focus on three questions, which we try to answer given the availability of expert forecasts and model forecasts. First, is the expert forecast...