The authors propose a new Bayesian latent structure regression model with variable selection to solve various commonly encountered marketing problems related to market segmentation and heterogeneity. The proposed procedure simultaneously performs segmentation and regression analysis within the...

A new Bayesian multinomial probit model is proposed for the analysis of panel choice data. Using a parameter expansion technique, we are able to devise a Markov Chain Monte Carlo algorithm to compute our Bayesian estimates efficiently. We also show that the proposed procedure enables the...