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...

Observational data on either individual or aggregate demand is often not sufficient to identify consumer preferences due to lack of variation in prices or product features, or the desire to study product features not currently available. Choice-based conjoint analysis offers a solution to this...