The aim of this paper is to explore the links between brand equity, consumer learning and consumer choice processes in general, and considering two recent trends in the market place: store brands and the Internet. We first review the advances that have occurred in brand equity research in...

The workhorse brand choice models in marketing are the multinomial logit (MNL) and nested multinomial logit (NMNL). These models place strong restrictions on how brand share and purchase incidence price elasticities are related. In this paper, we propose a new model of brand choice, the “price...

We develop a model of household demand for frequently purchased consumer goods that are branded, storable and subject to stochastic price fluctuations. Our framework accounts for how inventories and expectations of future prices affect current period purchase decisions. We estimate our model...

Welfare economics is often employed to measure the impact of economic policies or externalities. When demand is characterized by discrete choices, static models of consumer demand are employed for this type of analysis because of the difficulty in estimating dynamic discrete choice models. In...

The psychology, the marketing consumer behavior and, to a much smaller extent, the economics literature have long reported evidence that decision makers utilize different decision strategies depending upon many factors (person-specific, task-specific, etc.). Such observations have generally...

Most empirical models of consumer choice assume that the decision-maker assesses all alternatives and information in a perfect information processing sense. The complexity of the choice environment, the ability of the individual to make complex decisions and the effect of choice context on the...