The relationship of intentions to buy consumer durables with levels of purchase

Provides background to the current literature on buying intentions and describes some recent research on the subject. States traditional short‐term econometric forecasting models for durables generally represent expenditure as a function of disposable income, relative price, an index of hire‐purchase control, and an estimation of the total stock of durables. Discusses US experience in depth, with literature examples. Sums up that current research is now engaged on testing the hypothesis that intentions are primarily expressed by initial purchasers.