Modeling Heterogeneity and State Dependence in Consumer Choice Behavior
AbstractIn frequently-purchased-consumer-goods markets, consumer brand choices exhibit substantial persistence across purchase occasions. In this article, the author estimates a choice model that admits of both heterogeneity in preferences and true state dependence as sources of this persistence, using Nielsen scanner data on ketchup. He finds evidence for true state dependence in the choice process, even after controlling for a rich heterogeneity structure. Simulation of the model indicates that the long-term effect of a promotion-induced purchase on future purchase probabilities is positive but small.
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Bibliographic InfoArticle provided by American Statistical Association in its journal Journal of Business and Economic Statistics.
Volume (Year): 15 (1997)
Issue (Month): 3 (July)
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