| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4255 |
| DP4255 How Often Should you Open the Door? Optimal Monitoring to Screen Heterogeneous Agents | |
| Andrea Ichino; Gerd Muehlheusser | |
| 发表日期 | 2004-02-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | This Paper generalizes the standard habit formation model to an environment in which agents form habits over individual varieties of goods as opposed to over a composite consumption good. We refer to this preference specification as ?deep habit formation?. Under deep habits, the demand function faced by individual producers depends on past sales. This feature is typically assumed ad-hoc in customer market and brand switching cost models. A central result of the Paper is that deep habits give rise to counter cyclical mark-ups, which is in line with the empirical evidence. This result is important because ad-hoc formulations of customer-market and switching-cost models have been criticized for implying pro-cyclical and hence counterfactual mark-up movements. The Paper also provides econometric estimates of the parameters pertaining to the deep habit model. |
| 主题 | International Macroeconomics |
| 关键词 | Habit formation Customer market models Switching cost models Time varying mark-ups Business cycles |
| URL | https://cepr.org/publications/dp4255 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533221 |
| 推荐引用方式 GB/T 7714 | Andrea Ichino,Gerd Muehlheusser. DP4255 How Often Should you Open the Door? Optimal Monitoring to Screen Heterogeneous Agents. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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