This monograph provides a review of choice models in marketing from the perspective of a utility maximizing consumer subject to budgetary restrictions. Marketing models of choice have undergone many transformations over the last 20 years, and the advent to hierarchical Bayes models indicate that...

The decision to rent or own is prevalent in many consumer decisions, including what to wear, what to watch and what to read. A challenge to firms pricing these products is understanding whether renting, or having access through a subscription, is considered complementary to, or acts as a...

We examine the profitability of personalized pricing policies that are derived using different specifications of demand in a typical retail setting with consumer-level panel data. We generate pricing policies from a variety of models, including Bayesian hierarchical choice models, regularized...