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.

econometrics, lucas critique, marketing, verwachtingen
Statistical Decision Theory; Operations Research (jel C44), Econometric Modeling: General (jel C50), Expectations; Speculations (jel D84), Business Administration and Business Economics; Marketing; Accounting (jel M), Marketing (jel M31)
hdl.handle.net/1765/1675
ERIM Report Series Research in Management
Erasmus Research Institute of Management

van Heerde, H.J, Dekimpe, M.G, & Putsis, W.P, Jr. (2004). Marketing Models and the Lucas Critique (No. ERS-2004-080-MKT). ERIM Report Series Research in Management. Retrieved from http://hdl.handle.net/1765/1675