The concept of willingness-to-pay (WTP) has attracted the attention of marketeers because of its use-fulness in many applications. Nowadays one aims at describing the market heterogeneity by estimating the distribution of WTP. However, this poses several problems that have been discussed...

Due to the increasing interest in market segmentation in modern marketing research, several methods for dealing with consumer heterogeneity and for revealing market segments have been described in the literature.In this study, the authors compare eight two-stage segmentation methods that aim to...

In this study, we compare the parameter estimates of the mixed logit model obtained with maximum likelihood and with hierarchical Bayesian estimation. The choice of the priors in Bayesian estimation and of the type and the number of quasi-random draws for maximum likelihood estimation have a big...