A Price Vector Model of Demand for Consumer Durables: Preliminary Developments

Citation
S. Winer, Russell, A Price Vector Model of Demand for Consumer Durables: Preliminary Developments, Marketing science , 4(1), 1985, pp. 74-90
Journal title
ISSN journal
07322399
Volume
4
Issue
1
Year of publication
1985
Pages
74 - 90
Database
ACNP
SICI code
Abstract
Although considerable research has been conducted on optimal pricing policies for manufacturers, relatively little work has been done on how price enters the consumer choice process. In this paper, a model is developed for durables purchasing which integrates both economic and behavioral research by specifying a vector of five price concepts which affect purchasing behavior. Of particular interest are variables relating to future price expectations. Due to data limitations, a revised model is estimated and the results provide preliminary support for the general model.