A choice model based on direct utility maximization subject to an arbitrary number of constraints is developed and applied to conjoint data. The model can accommodate both corner and interior solutions, and it provides insights into the proportion of respondents bound by each constraint....

Consumers are often observed to purchase more than one variety of a product on a given shopping trip. The simultaneous demand for varieties is observed not only for packaged goods such as yogurt or soft drinks, but in many other product categories such as movies, music compact disks, and...

Direct utility models of consumer choice are reviewed and developed for understanding consumer preferences. We begin with a review of statistical models of choice, posing a series of modeling challenges that are resolved by considering economic foundations based on constrained utility...

The emergence of Bayesian methodology has facilitated respondent-level conjoint models, and deriving utilities from choice experiments has become very popular among those modeling product line decisions or new product introductions. This review begins with a paradox of why experimental choices...

Ultimately, patents have value to the extent to which the product features enabled by the patents have economic value in the marketplace. Products that are enhanced by inclusion of patented features should generate incremental profits. Incremental profits can be assessed by considering demand...