Alternative Schätzungen von Werbeelastizitäten für den deutschen Fleischmarkt bei Multikollinearität – Ein ökonometrischer Vergleich

KLAUS HOFF

Published: 01.11.2000  〉 Heft 11/2000  〉 Resort: Articles 
Submitted: N. A.   〉 Feedback to authors after first review: N. A.   〉 Accepted: N. A.

ABSTRACT

Estimates of Advertising Elasticities on German Meat Markets under Multicollinearity - An Econometric ComparisonThe efficiency of commodity advertising is normally quantified by estimates of advertising elasticities. More and more estimates of these elasticities are done by linear expenditure systems. A comparison of elasticities, estimated by conventional econometric models on the one hand and by linear expenditure systems on the other hand indicates, that elasticities estimated by linear expenditure systems are less significant than such estimated by conventional, simply specified models. This effect can be explained by normative reasons, by advertising wear out and by econometric problems. A theoretical analysis supports the assumption, that multicollinearity in linear expenditure systems is higher than in conventional demand models. So significance of advertising elasticities can decrease, if complex model specifications are used. In this situation intervention analysis of Box Jenkins eventually leads to better results. These theses are tested and confirmed for the German meat market.
CONTACT AUTHOR
Prof. Dr. KLAUS HOFF, Fachhochschule Bingen, Berlinstr. 109, D-55411 Bingen am Rhein
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