Econometric Analysis of the Short-Run Fluctuations of Households' Purchases
Résumé
Infrequency of purchase models are alternatives to those derived from the classical 'utility maximization with binding nonnegativity constraints'scheme for modeling purchases that occur at random dates. An extension of those models is proposed that takes into account additional information about the exact number of times households purchased during the survey period. Various methods of estimation are described and an empirical illustration is presented with data drawn from the French Food Expenditure Survey (INSEE). Copyright 1993 by The Review of Economic Studies Limited.