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Customer relationship management (CRM) typically involves tracking individual customer behavior over time, and using this knowledge to configure solutions precisely tailored to the customers’ and vendors’ needs. In the context of choice, this implies designing longitudinal models of choice...
Persistent link: https://www.econbiz.de/10014037617
We attempt to provide insights into how heterogeneity has been and can be addressed in choice modeling. In doing so, we deal with three topics: Models of heterogeneity. Methods of estimation and Substantive issues. In describing models we focus on discrete versus continuous representations of...
Persistent link: https://www.econbiz.de/10013058836
We define sources of heterogeneity in consumer utility functions related to individual differences in response tendencies, drivers of utility, form of the consumer utility function, perceptions of attributes, stated expendencies, and stochasticity. A variety of alternative modeling approaches...
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We propose a multi-index binary response model for analyzing large databases (i.e., with many regressors). We combine many regressors into factors (or indexes) and then estimate the link function via parametric or nonparametric methods. Neither the estimation of factors nor the determination of...
Persistent link: https://www.econbiz.de/10013059245
We consider customer influences on market structure, arguing that market structure should explain the extent to which any given set of market offerings are substitutes or complements. We describe recent additions to the market structure analysis literature and identify promising directions for...
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