The Dynamics of Demand in Seasonal Goods Industries: An Empirical Analysis

Gonca Pinar Soysal
2008 unpublished
The Dynamics of Demand in Seasonal Goods Industries: An Empirical Analysis Gonca Pinar Soysal This dissertation develops and estimates a dynamic model of consumer choice behavior in markets for seasonal (short lifecycle) goods where products have a finite selling season, consumer valuations change over time and availability is limited. In these markets, retailers often use dynamic markdown policies in which an initial retail price is announced at the beginning of the season and the price is
more » ... nd the price is subsequently marked down as the season progresses. Strategic consumers face a tradeoff between purchasing early in the season when prices are higher but goods are available and purchasing later when prices are lower but the stock-out risk is higher. My structural model incorporates two features essential to modeling the demand for seasonal goods: change in consumer valuations over a finite season and limited 7 Metehan ve Nazli" ya 8
doi:10.21985/n2gm9g fatcat:pxr3daffmndanamophlsyr6mji