We develop a structural consumer lifecycle model to investigate consumers’ adoption and usage decisions of ATM cards. If consumers are forward-looking with a known discount factor, our framework can control for the heterogeneous lifespan faced by consumers of different ages, and hence measure...

Consumers’ time allocation decisions among various activities are fundamental to marketing research and consumer behavior. We construct a dynamic panel data model to examine how consumers allocate time to a portfolio of leisure activities over time. Our data comprise a longitudinal panel where...

Some managers are better than others. Based on the cognitive hierarchy framework of Camerer, Ho, and Chong (2004), the authors develop a structural econometric model that estimates the level of strategic thinking. In the model, firms with a high level of strategic thinking are more likely to...

To measure the extent of incomplete information about brand qualities faced by consumers, recent research in marketing and economics has extended traditional static choice models to explicitly allow for consumer learning. These models tend to be complicated and make stringent assumptions such as...

This paper provides a step-by-step guide to estimating infinite horizon discrete choice dynamic programming (DDP) models using a new Bayesian estimation algorithm (Imai, Jain and Ching, Econometrica 77:1865-1899, 2009) (IJC). In the conventional nested fixed point algorithm, most of the...