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Habit, aggregation and long memory: evidence from television audience data

[journal article]

Peel, David A.; Byers, John D.; Thomas, Dennis A.

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Abstract Many economic outcomes appear to be influenced by habit or commitment, giving rise to persistence. In cases where the decision is binary and persistent, the aggregation of individual time series can result in a fractionally integrated process for the aggregate data. Certain television programmes appear to engender commitment on the part of viewers and the decision to watch or not is clearly binary. We report an empirical analysis of television audience data and show that these series can be modelled as I(d) processes. We also investigate the proposition that temporal aggregation of a fractionally-integrated series leaves the value of d unchanged.
Keywords aggregation
Classification Broadcasting, Telecommunication; Impact Research, Recipient Research
Free Keywords Long Memory; Fractional Processes; Habit
Document language English
Publication Year 2008
Page/Pages p. 321-327
Journal Applied Economics, 39 (2008) 3
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)