Economics has traditionally split consumers from producers by assigning them fixed roles. In the Internetworked economy as it is becoming, this is no longer true as value is increasingly jointly created among individuals, as a function of their co-creation experiences. We construct a framework...

We are now in a new age of stakeholder engagement. Thanks to the World Wide Web, social media, and advances in mobile and interactive communications and information technologies, networked individuals around the globe are no longer passive and docile recipients of dispensed instructions and...

Choice-based conjoint analysis has increased in popularity in recent years among marketing practitioners. The typical practice is to estimate choice-based conjoint models at the aggregate level, given insufficient data for individual-level estimation of part-worths. We discuss a method for...

We propose an approach for deriving joint space maps of bundle compositions and market segments from three-way (e.g., consumers x product options/benefits/features x usage situations/scenarios/time periods) pick-any/J data. The proposed latent structure multidimensional scaling procedure...

Consumers today have more choices of products and services than ever before, but they seem dissatisfied. Firms invest in greater product variety but are less able to differentiate themselves. Growth and value creation have become the dominant themes for managers. In this paper, we explain this...

The authors investigate how different segments of consumers react to different coupon characteristics, such as face value and method of distribution. They utilize a latent segmentation approach to identify the underlying segments. The empirical analysis suggests that different segments of...

We propose a maximum likelihood framework for estimating finite mixtures of multivariate regression and simultaneous equation models with multiple endogenous variables. The proposed “semi‐parametric” approach posits that the sample of endogenous observations arises from a finite mixture of...