Different objectives such as category demand expansion or market share stealing warrant the use of different marketing instruments. To help brand managers make informed decisions, it is essential that marketing mix models appropriately measure their effects. Random Utility Models (RUM) that have...

This article introduces a newly discovered property of discrete-choice models, which I call the Invariant Proportion of Substitution (IPS). Like the Independence from Irrelevant Alternatives (IIA) property, IPS implies individual behavior that is counterintuitive in the context of choice among...