Quasi-Engel Curves, Diffusion, and the Ownership of Major Consumer Durables

Bonus, Holger

doi:10.1086/260063

Cited by 56 publications

(29 citation statements)

References 15 publications

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“…Critical income is defined (Bonus, 1973) as the minimum income level that a consumer would need to purchase a given good. From here onwards we will refer only to goods.…”

Section: A Hierarchical Theory Of Wants and Preferences?mentioning

confidence: 99%

Variety, growth and demand

Saviotti¹

2001

J Evol Econ

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A dynamic model of demand compatible with a changing composition of the economic system is presented in this paper. Consumers are not expected to have completely formed preferences for radically new objects of consumption. Consumers adopt new goods or services ,created by innovation, only if three barriers are overcome: 1) a critical (minimum) level of income, 2) critical human capital, 3) critical fitness. However, even a new good or service with a fitness higher than that of pre-existing ones, will not be immediately adopted. Consumers'.limited knowledge will slow down the rate of adoption of any new good or service.

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“…Critical income is defined (Bonus, 1973) as the minimum income level that a consumer would need to purchase a given good. From here onwards we will refer only to goods.…”

Section: A Hierarchical Theory Of Wants and Preferences?mentioning

confidence: 99%

Variety, growth and demand

Saviotti¹

2001

J Evol Econ

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“…Income variation within the population has been recognized for many decades as having an important impact on consumption. Higher incomes have been related to higher expenditures on discretionary goods (Bonus, 1973;Horsky, 1990). Although this relationship is almost universally accepted, the eect of changes in income over time is rarely considered in marketing models.…”

Section: Incomementioning

confidence: 99%

Beyond diffusion: an affordability model of the growth of new consumer durables

Golder¹,

Tellis²

1998

J. Forecast.

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A ®rm's ability to compete in new product markets is vital to its pro®t-ability and long-term survival. Therefore, it is important to understand the development and growth of these markets. Following a pioneering study by Bass (1969), diusion models have traditionally provided this understanding in marketing. The great appeal of the Bass model is that it is a simple one that ®ts the data very well and provides parameters that have an intuitive behavioural interpretation. The model suers from three wellknown limitations: (1) it does not include marketing variables that could in¯uence new product diusion and sales; (2) the model's parameters are unstable; and (3) the model's forecasts are inaccurate before the sales peak and especially prior to the point of in¯ection. Subsequent research has made progress especially in extending the Bass model to include marketing variables. However, the extensions have come at the cost of simplicity: the new models are far more complex than the simple Bass model. We propose an alternate simple model of new product growth for consumer durables, based on the concept of aordability rather than on diusion. We compare this model with the diusion model in terms of ®t, stability and validity of parameters, and forecasting ability. The alternate model is a little inferior to the diusion model in ®t, but superior in terms of the stability and validity of parameters and forecasting ability. We discuss the limitations and implications of our model. #

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“…Here the choice and purchase of a single household is interpreted as follows. The household may choose good g as additional good as described in models in Ironmonger [ 1972] and Paroush [ 1973].s) The purchase decision may depend on critical values as described in Cramer [1962 and1969] and Bonus [1975]. 6) The proportion a (/I]') is now that proportion of households in position]' which choose good g as additional one (/" E J (/")).…”

Section: G~lmentioning

confidence: 99%

“…In most demand studies of durable goods, for instance studies in Cramer [ 1962 and 1969], Williams [ 1972], Bonus [1975] and Li [ 1977] the choice problem is neglected. Their number of goods is one, G = 1 according to our notation.…”

Section: G~lmentioning

confidence: 99%

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The accumulation structure of consumer durables and its empirical analysis

Pauly

1977

Empirical Economics

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Summary:For market research and other purposes it is of interest to know the accumulation process of consumer durables, and in particular whether almost all households acquire durables in the same order or whether almost all households acquire a certain curable at the same level of the accumulation process. The first part of the article describes the accumulation process and its structure. In the second part estimation and test procedures are proposed for analyzing empirically the accumulation structure. The test procedure is compared with Paroush's methods. In contrast to Paroush's method the relation between "almost all households" and the test statistic is now intelligible. Numerical examples illustrate the difference of both approaches.

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Quasi-Engel Curves, Diffusion, and the Ownership of Major Consumer Durables

Cited by 56 publications

References 15 publications

Variety, growth and demand

Variety, growth and demand

Beyond diffusion: an affordability model of the growth of new consumer durables

The accumulation structure of consumer durables and its empirical analysis

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