Liu, Qing; Otter, Thomas; Allenby, Greg M. - In: Marketing Science 26 (2007) 5, pp. 642-650
using sampling experiments. In this paper, we re-examine the endogeneity issue in light of the likelihood principle. The … likelihood principle asserts that all relevant information in the data about model parameters is contained in the likelihood … function. We show that, once the data are collected, adhering to the likelihood principle leads to analysis where endogeneity …