This paper estimates and tests several versions of the consumption-based asset pricing model extended to allow for time-nonseparable preferences and/or liquidity constraint proxies, using Canadian aggregate data. It is found that a habit-persistence effect uncovered in the time-nonseparable...

This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation Search Index (GISI) is assessed relative to 37 other...

Smart home is an important application of Internet of Things (IoT) that utilizes the Internet to monitor and control appliances in a home automation system by providing security, energy efficiency, low operating costs, convenience etc. The installation of smart products allows the user to...

This paper presents an empirical examination of oligopoly pricing and consumer search. The theoretical model allows for sequential and non-sequential search and, using the theoretical restrictions firm and consumer behavior impose on the data, we study the empirical validity of the models. Two...

As high-tech markets mature, replacement purchases inevitably become the dominant proportion of sales. Despite the clear importance of product replacement, little empirical work examines the separate roles of adoption and replacement. A consumer's replacement decision is dynamic and driven by...

A methodology is proposed to estimate structural models of product line competition. This methodology enables researchers to estimate demand systems accounting for the endogeneity of the mix of products available in each market, an issue which is typically ignored in the empirical literature. In...

A building block of many models in empirical industrial organization is a characteristic space, where products are modeled as a bundle of characteristics over which consumers have preferences. The ability of such models to predict counterfactual outcomes depends on how well this characteristic...

Out-of-Stock (OOS) is a prevalent problem customers face at the POS. In this paper, we demonstrate both theoretically and empirically how OOS-induced substitution patterns can be explained and predicted by means of context and phantom theory. We further analyze the relevance of promotions, for...