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The demand for food products

Author

Listed:
  • Christine Boizot

    (CORELA - Laboratoire de Recherche sur la Consommation - INRA - Institut National de la Recherche Agronomique)

  • Jean-Marc Robin
  • Michael Visser

    (CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - CNRS - Centre National de la Recherche Scientifique)

Abstract

In this paper we study household purchase behaviour of storable food products. An inventoly model is developed in which the household chooses an optimal stock level of the product. Storage of the product is costly, there is a fixed cost per purchase occasion, and the market price is sometimes discounted because of price promotions. We show that the optimal purchase policy is an s, S policy. The model is used to derive predictions on the correlations between interpurchase times and purchased quantities on the one hand, and prices on the other. These predictions are empirically verified using consumer panel data.

Suggested Citation

  • Christine Boizot & Jean-Marc Robin & Michael Visser, 2001. "The demand for food products," Post-Print hal-03416605, HAL.
    • Handle: RePEc:hal:journl:hal-03416605
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