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A Random-Coefficients Logit Brand-Choice Model Applied to Panel Data

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Author Info
Jain, Dipak C
Vilcassim, Naufel J
Chintagunta, Pradeep K

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Abstract

A random-coefficients logit model that allows for unobserved heterogeneity in brand preferences and in the responses to marketing variables is empirically investigated using household-level panel data. The unknown underlying distribution of unobserved heterogeneity is approximated by a discrete distribution. The results reveal that there is significant unobserved heterogeneity across households and that ignoring its effects results in a downward bias in the parameter estimates of the marketing variables. It is, therefore, important to account for heterogeneity in both preferences and responses in the absence of any a priori knowledge about the nature of heterogeneity across households.

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Publisher Info
Article provided by American Statistical Association in its journal Journal of Business and Economic Statistics.

Volume (Year): 12 (1994)
Issue (Month): 3 (July)
Pages: 317-28
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Handle: RePEc:bes:jnlbes:v:12:y:1994:i:3:p:317-28

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