@article{Dong:122115,
      recid = {122115},
      author = {Dong, Diansheng and Schmit, Todd M. and Kaiser, Harry M.},
      title = {Modeling the Household Purchasing Process Using a Panel  Data Tobit Model},
      address = {2003-10},
      number = {640-2016-42602},
      series = {Research Bulletin},
      pages = {32},
      year = {2003},
      abstract = {A panel data Tobit model is developed to examine the  household purchase process for a
frequently purchased  commodity. The proposed model accounts not only for  censoring or
sample selectivity, but also the temporal  dependence of the purchasing process using household
panel  data. The flexible error structure in the model accounts  for both state dependence and
household heterogeneity.  Empirical findings show that purchase habits of milk  persist across
households over time, and most of them come  from the household heterogeneity in preferences.
Results  also show that advertising increases the purchase quantity  and purchase frequency
simultaneously.},
      url = {http://ageconsearch.umn.edu/record/122115},
      doi = {https://doi.org/10.22004/ag.econ.122115},
}