To check which of the two effects (losses or
gains) is stronger for loyal and nonloyal
consumers, we observed the marginal effect of
losses and gains in both segments and for the two
panels. Since it is not possible to compare the
value of the coeffi cients in models that come
from different samples, we fi rst attempted to
discover if the losses are bigger than the gains
within each of the segments. Applying the
model to the group of loyal households of the
national panel shows that the losses effect is
greater than the gains effect. The same results
are found for the nonloyal households. In both
cases, therefore, the response to losses is more
intense than to gains.
When the regional panel was studied, the
response of the group of loyal households to
losses is also stronger. Losses are, however,
not signifi cant for the group of nonloyal
households, being either irrelevant in the
model or failing to add new information. The
explanation of this fact could be the following