Two-stage discrete choice models for scanner panel data: an assessment of process and assumptions

Article Abstract:

Two-stage discrete brand choice model evaluations show that models with any kind of choice set are inclined to perform better than multinomial logit but have to be formulated carefully to avoid biases. Care has to be taken in modelling choice sets, heterogeneity and parameters as these are prone to biases that may yield misleading results. Moreover, findings also suggest that choice set formation varies across product categories and the elimination-by-aspects is prone to misspecification.

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Mathematical models of brand choice behavior

Article Abstract:

Multi-choice models, preference- and choice-mapping models and conjoint analysis models are the three broad categories of brand choice behavior models. These latest brand choice behavior models are two-stage, in contrast with earlier single-stage models. The first stage of brand choice behavior involves attribute-based sequential elimination, while the second stage involves the economic principle of utility maximization.

Brand choice

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Feature-based elimination: model and empirical comparison

Article Abstract:

A feature-based elimination model for consumer behavior is found to perform at least as successfully as all current two-stage models and considerably better than most. Findings suggest that heterogeneity in screening strategies may be as widespread as heterogeneity in preferences. The model's good empirical performance and sound theoretical basis may be appealing to practitioners.

Research and Development in the Physical, Engineering, and Life Sciences, Statistics, Marketing, Marketing models, Statistics (Mathematics)

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