CORDIS Project
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This project develops innovative econometric models to analyze consumer demand over time, focusing on factors like habits and decision dynamics. By using less restrictive methodologies, it aims to improve understanding of consumer choices across various quality levels, impacting economic decision-making in fields such…
In this project novel econometric panel data models of consumer demand will be developed.
In particular, the determinants affecting individuals’ decisions will be examined when individuals are observed making decisions over time using new and less restrictive models.
The new models will examine the role of inertia, habits and lock-in in choices and the importance of dynamics in decisions, when consumers choose from a set of alternatives offered in different quality levels.
The methodologies in t…
UNIVERSITY OF CYPRUS
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