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Marketing Models and the Lucas Critique

Heerde J. van Harald - ; Dekimpe G. , Marnik - ; Jr William P. Putsis .William - ;

The Lucas Critique is a significant critique in the field of marketing that highlights the limitations of econometric models based on historical data. It suggests that economic agents may adapt their decisions strategically in response to policy changes, making it difficult to predict their reactions accurately. This critique is particularly relevant in marketing research, where the implications of ignoring it can be severe and where there are no easy solutions available. The critique calls for a deeper understanding of how marketing models can accommodate these changes and the need for modelers to be aware of its potential threats to the validity of their recommendations.


Ketersediaan

Call NumberLocationAvailable
JM4202PSB lt.dasar - Pascasarjana1
PenerbitChicago: American Marketing Association 2005
EdisiVol. 42, No. 1 (Feb., 2005), pp. 15-21
SubjekMarketing models
Econometric Models in Marketing
Policy Analysis in Marketing
ISBN/ISSN0022-2437
KlasifikasiNONE
Deskripsi Fisik7 p.
Info Detail SpesifikJournal of Marketing
Other Version/RelatedTidak tersedia versi lain
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  • Marketing Models and the Lucas Critique

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