{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,21]],"date-time":"2026-01-21T05:13:57Z","timestamp":1768972437488,"version":"3.49.0"},"reference-count":19,"publisher":"Wiley","issue":"3","license":[{"start":{"date-parts":[[2006,3,7]],"date-time":"2006-03-07T00:00:00Z","timestamp":1141689600000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/onlinelibrary.wiley.com\/termsAndConditions#vor"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["J of Applied Econometrics"],"published-print":{"date-parts":[[2006,4]]},"abstract":"<jats:title>Abstract<\/jats:title><jats:p>This paper examines price adjustment behaviour in the magazine industry. In a frequently cited study, Cecchetti (<jats:ext-link xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" xlink:href=\"#bib6\">1986<\/jats:ext-link>) constructs a reduced\u2010form (<jats:italic>S, s<\/jats:italic>) model for firms. Cecchetti assumes that a firm's pricing rules are fixed for non\u2010overlapping three\u2010year intervals and estimates the model using a conditional logit specification from Chamberlain (<jats:ext-link xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" xlink:href=\"#bib7\">1980<\/jats:ext-link>). The estimates are inconsistent, however, due to the duration\u2010dependent specification of the model. Two alternative specifications are used to obtain consistent estimation. The consistent estimates continue to provide strong evidence in favour of state\u2010dependent pricing models, but only weak evidence on the behaviour of price adjustment costs. Copyright \u00a9 2006 John Wiley &amp; Sons, Ltd.<\/jats:p>","DOI":"10.1002\/jae.836","type":"journal-article","created":{"date-parts":[[2006,3,7]],"date-time":"2006-03-07T22:20:23Z","timestamp":1141770023000},"page":"337-344","source":"Crossref","is-referenced-by-count":18,"title":["Magazine prices revisited"],"prefix":"10.1002","volume":"21","author":[{"given":"Jonathan L.","family":"Willis","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2006,3,7]]},"reference":[{"key":"e_1_2_8_2_1","doi-asserted-by":"publisher","DOI":"10.1111\/1467-937X.00088"},{"key":"e_1_2_8_3_1","volume-title":"Handbook of Econometrics","author":"Arellano M","year":"2001"},{"key":"e_1_2_8_4_1","doi-asserted-by":"publisher","DOI":"10.2307\/2297377"},{"key":"e_1_2_8_5_1","first-page":"647","article-title":"Monopolistic competition and the effects of aggregate demand","volume":"77","author":"Blanchard O","year":"1987","journal-title":"American Economic Review"},{"key":"e_1_2_8_6_1","doi-asserted-by":"publisher","DOI":"10.2307\/1911698"},{"key":"e_1_2_8_7_1","doi-asserted-by":"publisher","DOI":"10.1016\/0304-4076(86)90061-8"},{"key":"e_1_2_8_8_1","doi-asserted-by":"publisher","DOI":"10.2307\/2297110"},{"key":"e_1_2_8_9_1","doi-asserted-by":"publisher","DOI":"10.2307\/1911491"},{"key":"e_1_2_8_10_1","unstructured":"HonoreB HuL.2004.Estimation of discrete time duration models with grouped data.Advances in Econometrics. Mimeo Princeton University."},{"key":"e_1_2_8_11_1","volume-title":"Disequilibrium Dynamics","author":"Iwai K","year":"1981"},{"key":"e_1_2_8_12_1","doi-asserted-by":"publisher","DOI":"10.1017\/CCOL0521265967"},{"key":"e_1_2_8_13_1","doi-asserted-by":"publisher","DOI":"10.1016\/S0304-4076(99)00044-5"},{"key":"e_1_2_8_14_1","doi-asserted-by":"publisher","DOI":"10.1214\/aos\/1176346059"},{"key":"e_1_2_8_15_1","doi-asserted-by":"publisher","DOI":"10.1214\/aos\/1176346245"},{"key":"e_1_2_8_16_1","doi-asserted-by":"publisher","DOI":"10.2307\/2297067"},{"key":"e_1_2_8_17_1","doi-asserted-by":"publisher","DOI":"10.2307\/2297678"},{"key":"e_1_2_8_18_1","doi-asserted-by":"publisher","DOI":"10.1111\/1467-937X.00036"},{"key":"e_1_2_8_19_1","unstructured":"WillisJ.2000.Estimation of adjustment costs in a model of state\u2010dependent pricing. Federal Reserve Bank of Kansas City Research Paper No. 00\u201007."},{"key":"e_1_2_8_20_1","unstructured":"WillisJ.2001.Magazine prices revisited. Federal Reserve Bank of Kansas City Research Paper No. 01\u201015."}],"container-title":["Journal of Applied Econometrics"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.wiley.com\/onlinelibrary\/tdm\/v1\/articles\/10.1002%2Fjae.836","content-type":"unspecified","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/pdf\/10.1002\/jae.836","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,10,18]],"date-time":"2023-10-18T12:36:37Z","timestamp":1697632597000},"score":1,"resource":{"primary":{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/10.1002\/jae.836"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2006,3,7]]},"references-count":19,"journal-issue":{"issue":"3","published-print":{"date-parts":[[2006,4]]}},"alternative-id":["10.1002\/jae.836"],"URL":"https:\/\/doi.org\/10.1002\/jae.836","archive":["Portico"],"relation":{},"ISSN":["0883-7252","1099-1255"],"issn-type":[{"value":"0883-7252","type":"print"},{"value":"1099-1255","type":"electronic"}],"subject":[],"published":{"date-parts":[[2006,3,7]]}}}