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sampling design in which some households have all members take the survey enable the estimation of distributions for each … distribution of responsibility shares among survey respondents suggests that the sampling procedure favors household members with …
Persistent link: https://www.econbiz.de/10012425350
Process (DP) prior on the coefficients with nonparametrically estimated density. We employ a 'latent class' sampling algorithm …
Persistent link: https://www.econbiz.de/10010288443
Many consumption-based models succeed in matching long lists of asset price moments. We propose an alternative, full-information Bayesian evaluation that decomposes the price-dividend ratio (p/d) into contributions from long-run risks, habit, and a residual. We find that long-run risks account...
Persistent link: https://www.econbiz.de/10012903645
Process (DP) prior on the coefficients with nonparametrically estimated density. We employ a “latent class” sampling algorithm …
Persistent link: https://www.econbiz.de/10003746887
the unconditional cross-sectional moments of household consumption growth and the moments of the risk free rate, equity … premium, price-dividend ratio, and aggregate dividend and consumption growth. The model-implied risk free rate and price …-dividend ratio are pro-cyclical while the market return has countercyclical mean and variance. Finally, household consumption risk …
Persistent link: https://www.econbiz.de/10013034190
household. When the sampling involves selecting individuals from within households, a tendency to choose certain types of …
Persistent link: https://www.econbiz.de/10014130662
Understanding individual customers’ sensitivities to prices, promotions, brand, and other aspects of the marketing mix is fundamental to a wide swath of marketing problems, including targeting and pricing. Companies that operate across many product categories have a unique opportunity, insofar...
Persistent link: https://www.econbiz.de/10013231484
In this paper we study the impact of customer stochasticity on firm price discrimination strategies. We develop a new model termed the Bayesian Mixture Scale Heterogeneity (BMSH) model that incorporates both parameter heterogeneity and customer stochasticity using a mixture model approach, and...
Persistent link: https://www.econbiz.de/10013025005
Firms use aggregate data from data brokers (e.g., Acxiom, Experian) and external data sources (e.g., Census) to infer the likely characteristics of consumers and thus better predict consumers' profiles and needs, unobtrusively. We demonstrate that the simple count method most commonly used in...
Persistent link: https://www.econbiz.de/10012855680
approach that addresses sampling error in product shares and scales well to rich data environments. The data requirements are …
Persistent link: https://www.econbiz.de/10013312178