Choice Behavior Under Time-Variant Quality: State Dependence Versus "Play-It-by-Ear" in Selecting Ski Resorts
In past studies of consumer loyalty changes in brand attributes over time were generally unobservable and treated as additional model parameters. In this study we consider ski resorts, for which observable quality attributes change frequently. Using a repeated-purchase model with observed time-varia...
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| Veröffentlicht in: | Journal of business & economic statistics 2004-04, Vol.22 (2), p.214-224 |
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| container_end_page | 224 |
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| container_title | Journal of business & economic statistics |
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| creator | Moeltner, Klaus Englin, Jeffrey |
| description | In past studies of consumer loyalty changes in brand attributes over time were generally unobservable and treated as additional model parameters. In this study we consider ski resorts, for which observable quality attributes change frequently. Using a repeated-purchase model with observed time-variant brand attributes, indicators for state dependence, and individual heterogeneity, we show that purchase history and time-variant site characteristics have a significant and offsetting effect on repurchase decisions. This suggests a third category of consumer along with habit formers and variety seekers, the "play-it-by-ear" type, who, unaffected by purchase history, moves across brands in pursuit of high quality. |
| doi_str_mv | 10.1198/073500104000000109 |
| format | Article |
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| subjects | Brand loyalty Brands Business studies Consumer behavior Consumers Discounts Economic behaviour Economic models Economic statistics Expected utility Marketing Parametric models Probability Product choice Quality standards Random parameters Recreation Repeated brand choice Resorts & spas Simulated choice probabilities Ski resorts Skiing Skis Snow Statistical methods Statistics Studies Time Time dependence Time-variant quality features U.S.A Variables |
| title | Choice Behavior Under Time-Variant Quality: State Dependence Versus "Play-It-by-Ear" in Selecting Ski Resorts |
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