Marketing research relies on individual-level estimates to understand the rich heterogeneity that exists in consumers, firms, and products. While much of the literature focuses on capturing static cross-sectional heterogeneity, little research has been done on modeling dynamic heterogeneity, or...

We study a Bayesian learning model with heterogeneity in which the agents control both short-term manipulations and long-term efforts aimed at solving the optimal contract in dynamic environments. At the same time, considering the dynamic characteristics of contracts, the paper considers the...

We consider a general framework of optimal contract design under the heterogeneity and short-termism of agents. Our research shows that the optimal contract must weigh the agent's information rent, incentive cost, and benefit to overcome the contract's adverse selection and moral hazards. Agents...

Marketing variables that are included in consumer discrete choice models are often endogenous. Extant treatments using likelihood-based estimators impose parametric distributional assumptions, such as normality, on the source of endogeneity. These assumptions are restrictive as misspecified...

Internet recommender systems are popular in contexts that include heterogeneous consumers and numerous products. In such contexts, product features that adequately describe all the products are often not readily available. Content-based systems therefore rely on user-generated content such as...