Marketing Models and the Lucas Critique
2004-09-29
Research Paper
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The Lucas critique has been largely ignored in the marketing literature. We present a number of conditions under which the critique is most likely to (also) apply in marketing settings. Next, we provide some perspectives on how to diagnose and accommodate the Lucas critique, and identify various avenues for future research.
Keywords
Classifications using
Journal of Economic Literature (JEL) Classification System
- C50 : Econometric Modeling: General
- D84 : Expectations; Speculations
- M : Business Administration and Business Economics; Marketing; Accounting
- C44 : Statistical Decision Theory; Operations Research
- M31 : Marketing
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