Consumers’ time allocation decisions among various activities are fundamental to marketing research and consumer behavior. We construct a dynamic panel data model to examine how consumers allocate time to a portfolio of leisure activities over time. Our data comprise a longitudinal panel where...

We develop a structural consumer lifecycle model to investigate consumers’ adoption and usage decisions of ATM cards. If consumers are forward-looking with a known discount factor, our framework can control for the heterogeneous lifespan faced by consumers of different ages, and hence measure...

Because utility/profits, state transitions and discount rates are confounded in dynamic models, discount rates are typically fixed for the purpose of identification. We propose a strategy of identifying discount rates. The identification rests upon imputing the utility/profits using decisions...