A "Working" System Model of Car Buyer Behavior

John U. Farley, John A. Howard and Donald R. Lehmann
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John U. Farley: Columbia University
John A. Howard: Columbia University
Donald R. Lehmann: Columbia University

Management Science, 1976, vol. 23, issue 3, 235-247

Abstract: A four-equation "working version" system based on elements of a buyer behavior model was used to organize an analysis of a five-wave consumer panel tracking the introduction of a new brand of subcompact automobile. Parameters of endogenous model variables are remarkably stable over time, alternative brands, parameter estimation methods and specially-defined subgroups of the panel, while parameters of exogenous model variables vary systematically. The model behaves reasonably in a systems sense when tested with extreme values of endogenous and exogenous variables.

Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:23:y:1976:i:3:p:235-247

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