Age and Product Substitution and Cohort Preferences

Jo M. Martins (), Farhat Yusuf () and David A. Swanson ()
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Jo M. Martins: Macquarie University, Department of Marketing and Management
Farhat Yusuf: Macquarie University, Department of Marketing and Management
David A. Swanson: University of California Riverside, Department of Sociology

Chapter Chapter 11 in Consumer Demographics and Behaviour, 2011, pp 169-196 from Springer

Abstract: Abstract The eleventh chapter examines one of the demographic characteristics of consumer behaviour: product substitution, as people reach retirement age and their social and economic functions change. The chapter reviews behaviour traits that change with age, such as home and work orientation, changes in life styles due to alternative uses of time, physical functioning and capacity to cope with certain pursuits. To this end, it uses an analytical framework to identify given commodities associated with preferences as social and economic functioning changes in retirement, and substitution of some commodity types by others. In addition, this chapter looks at the association between given age cohorts that have experienced similar social and economic experiences and specific generic products that they continue to prefer during their life cycle. It discusses identification problems in cross-sectional and longitudinal surveys and the use of pseudo panels. It uses the concept of pseudo panels to examine age, period and cohort effects. It reviews the characterisation of generational cohorts. It looks at possible cohort effects in relation to a number of specific commodities over two decades using constrained regression models.

Keywords: Consumer Behaviour; Household Head; Cohort Effect; Product Substitution; Mortgage Interest (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ssdmcp:978-94-007-1855-5_11

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DOI: 10.1007/978-94-007-1855-5_11

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