Models of multi-category choice behavior
Marketing letters, 2005•Springer
Given the advent of basket-level purchasing data of households, choice modelers are
actively engaged in the development of statistical and econometric models of multi-category
choice behavior of households. This paper reviews current developments in this area of
research, discussing the modeling methodologies that have been used, the empirical
findings that have emerged so far, and directions for future research. We also motivate the
use of Bayesian methods to overcome the computational challenges involved in estimation.
actively engaged in the development of statistical and econometric models of multi-category
choice behavior of households. This paper reviews current developments in this area of
research, discussing the modeling methodologies that have been used, the empirical
findings that have emerged so far, and directions for future research. We also motivate the
use of Bayesian methods to overcome the computational challenges involved in estimation.
Abstract
Given the advent of basket-level purchasing data of households, choice modelers are actively engaged in the development of statistical and econometric models of multi-category choice behavior of households. This paper reviews current developments in this area of research, discussing the modeling methodologies that have been used, the empirical findings that have emerged so far, and directions for future research. We also motivate the use of Bayesian methods to overcome the computational challenges involved in estimation.
Springer
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