Estimation of demand is at the heart of many recent studies that examine questions of market power, mergers, innovation, and valuation of new brands in differentiated‐products markets. This paper focuses on one of the main methods for estimating demand for differentiated products:...

We consider an adaptive importance sampling approach to estimating the marginal likelihood, a quantity that is fundamental in Bayesian model comparison and Bayesian model averaging. This approach is motivated by the difficulty of obtaining an accurate estimate through existing algorithms that...

This article discusses the use of Bayesian methods for estimating logit demand models using aggregate data, i.e. information solely on how many consumers chose each product. We analyze two different demand systems: independent samples and consumer panel. Under the first system, there is a...

Purpose This study aims to investigate the performance differences of Islamic and conventional banks in Pakistan by using financial ratios. Design/methodology/approach This study analyzed 5 Islamic and 19 conventional banks for the periods of 2007-2014. Two types of analyses were performed –...

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places...

The generalized multinomial logit (GMNL) model nests the random parameters logit (RPL) model and the scale heterogeneity logit (SMNL) model. The RPL model captures the preference heterogeneity among individuals by allowing the coefficients to be random with any distribution. It has been often...