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...

The use of adaptive designs in conjoint analysis has been shown to lead to an endogeneity bias in part-worth estimates 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...

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...

Marketing expenditures in the form of pricing, product development, promotion, and channel development are made to maximize profits. A challenge in evaluating the effectiveness of these expenditures is that decisions such as whether to lower prices or run promotions are made based on managers'...

This paper compares the results from data envelopment analysis (DEA) to a naïve efficiency measurement model, which generates a scalar efficiency score by averaging all output-input ratios. Random data and real-life data are used to test the relative performance of the naïve model against...

Responses to questions in a survey can reflect a behavior process that influences multiple response items. Respondent ratings of brand attributes, for example, can be affected by past purchases by making a brand more salient, or by respondents attributing higher performance to justify their...

We develop a market-based paradigm to value the enhancement or addition of features to a product. We define the market value of a product or feature enhancement as the change in the equilibrium profits that would prevail with and without the enhancement. In order to compute changes in...

The predictive relationship of a large and comprehensive set of personal descriptors to aspects of product and brand use is examined. The descriptors comprise demographic and general psychographic variables frequently used in segmentation studies and studies of consumer purchase behavior. The...