This article deals with estimation and testing of six different distributed lag models, with an example given of sales and advertising data for a dietary weight control product. A distributed lag model more general than the frequently employed Koyck model is shown to be consistent with the evidence.
Get full access to this article
View all access options for this article.
References
1.
BasmannRobert L. “On the Application of the Identifiability Test Statistic in Predictive Testing of Explanatory Economic Models,” The Econometric Annual of the Indian Economic Journal, 13 (September 1965), 387–423.
2.
BasmannRobert L. “Hypothesis Formulation in Quantitative Economics: A Contribution to Demand Analysis,” Papers in Quantitative Economics, University of Kansas, 1968, 143–202.
3.
BassFrank M. “Application of Regression Models in Marketing: Testing versus Forecasting,” Institute Paper No. 265, Institute for Research in the Behavioral, Economic, and Management Sciences, Krannert Graduate School of Industrial Administration, Purdue University, 1969.
4.
BassFrank M. “A Simultaneous Equation Regression Study of Advertising and Sales of Cigarettes,” Journal of Marketing Research, 6 (August 1969), 291–300.
5.
BassFrank M. and BeckwithNeil E. “A Multivariate Regression Analysis of the Responses of Competing Brands to Advertising,” Institute Paper No. 287, Institute for Research in the Behavioral, Economic, and Management Sciences, Krannert Graduate School of Industrial Administration, Purdue University, 1970.
6.
BassFrank M. and ParsonsLeonard J. “Simultaneous-Equation Regression Analysis of Sales and Advertising,” Applied Economics, 1 (May 1969), 103–24.
7.
BassFrank M. “Optimal Advertising Expenditure Implications of a Simultaneous Equation Regression Analysis,” Operations Research, 19 (May–June 1971), 822–31.
8.
BoxGeorge E. P. and HillW. J. “Discrimination Among Mechanistic Models,” Technometrics, 9 (January 1967), 57–72.
9.
DhrymesP. J., KleinL. R., and SteiglitzK. “Estimation of Distributed Lags,” International Economic Review, 11 (June 1970), 235–49.
10.
GoldbergerArthur S.Econometric Theory.New York: John Wiley & Sons, 1964.
11.
GrilichesZvi. “Distributed Lags: A Survey,” Econometrica, 35 (January 1967), 16–49.
12.
HookeR. and JeevesT. A. “Direct Search Solution of Numerical and Statistical Problems,” Journal of the Association for Computing Machinery, 8 (April 1961), 212–28.
13.
KoyckL. M.Distributed Lags and Investment Analysis.Amsterdam: North-Holland, 1954.
14.
PaldaKristian S.The Measurement of Cumulative Advertising Effects.Englewood Cliffs, N. J.: Prentice-Hall, 1964.
15.
ScheffeH.The Analysis of Variance.New York: John Wiley & Sons, 1954.
16.
SteiglitzK. S. and McBrideL. E. “A Technique for the Identification of Linear Systems,” IEEE Transactions on Automatic Control, 4 (October 1965), 461–4.
17.
Van WormerTheodore A. and WeissDoyle L. “Fitting Parameters to Complex Models by Direct Search,” Journal of Marketing Research, 7 (November 1970), 503–12.
18.
ZellnerArnold and GeiselM. S. “Analysis of Distributed Lag Models with Applications to Consumption Function Estimation,” Econometrica, 38 (November 1970), 865–87.
