This study investigates the empirical performance of four different functional forms for advertising-augmented consumer allocation models. The investigation is carried out within the context of the UK alcoholic drinks markets. The aims of the study are twofold: (i) to assess which of the four...

In recent years, several structural changes and sequences of shocks have occurred in the market for tobacco in the UK, including an explosive growth in smuggling. This study examines whether it is still possible to estimate a reliable, plausible tobacco demand equation from time series data for...