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In many categories consumers display cyclical buying: they repeatedly purchase in the category for several periods, followed by several periods of not buying. We believe that the cyclicality is a manifestation of cross-category substitution by the consumer, caused by "variety-seeking" tendencies...
Persistent link: https://www.econbiz.de/10009218489
Guadagni and Little (1983) had a surprising (to the authors) number of citations, presumably because it was the first paper to build a useful model with UPC scanner panel data. More surprising (but not to the authors) was that the model, compared to those in most academic papers, found...
Persistent link: https://www.econbiz.de/10008787967
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The issue of consumer heterogeneity in discrete choice analysis has been attracting much attention recently. Research … has suggested that heterogeneity can result in biased parameter estimates which, in turn, can lead to incorrect … conclusions. Among the many methods proposed in the literature to handle heterogeneity, models seem to be the most attractive from …
Persistent link: https://www.econbiz.de/10008787914
A brand choice model with heterogeneous price-threshold parameters is used to investigate a three-regime piecewise-linear stochastic utility function. The model is used to explore the relationships between aspects of consumer price sensitivity and price thresholds using hierarchical Bayes...
Persistent link: https://www.econbiz.de/10008789799
coefficient specification to capture this type of heterogeneity in behaviour, and discusses nonparametric identification and …
Persistent link: https://www.econbiz.de/10010318707
A system of regression equations (SURE) for analyzing panel data with random heterogeneity in intercepts and …
Persistent link: https://www.econbiz.de/10010330261
individual heterogeneity in both intercepts and slope coefficients, and (iii) unbalanced panel data, i.e., panel data where the …
Persistent link: https://www.econbiz.de/10010284265
In structural economic models, individuals are usually characterized as solving a decision problem that is governed by a finite set of parameters. This paper discusses the nonparametric estimation of the probability density function of these parameters if they are allowed to vary continuously...
Persistent link: https://www.econbiz.de/10010288309