Duráveis: preferências e acumulação
DOI:
https://doi.org/10.1590/1980-535716n6ptaaAbstract
Consumer choice among durables cannot be satisfactorily accommodated by models directly derived from the conventional, deterministic model. This study proposes an axiomatic and probabilistic framework for modelling consumer choice preferences among durables in the market and discusses its theoretical properties. The related qualitative econometric model is specified, the empirically testable hypotheses implied by the proposed framework are discussed, as are the empirical properties of the measures relevant to behavior in the market for durables. For the empirical test of the model, Brazilian (state of Sao Paulo) cross-sectional household data (ENDEF survey) is used for the set of four durables: refrigerator, blender, sewing machine and television. The estimation results strongly support the theory. The implications to Brazilian (Sao Paulo) consumer behavior in the market for durables are derived and discussed. Among others, the results for Sao Paulo consumers sharply contradict the notion that preferences for durables revealed in the market merely reproduce those of the high income consumer.
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Copyright (c) 1986 Paulo de Tarso Afonso de André
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