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An Empirical Investigation of the "Dynamic McFadden" Model of Purchase Timing and Brand Choice: Implications for Market Structure

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Author Info
Chintagunta, Pradeep K
Prasad, Alok R

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Abstract

Purchase timing and brand-choice decisions of households are jointly investigated using the 'dynamic McFadden' model of J. Heckman and B. Singer. The hazard of brand purchase is decomposed into the category purchase hazard and the probability of brand choice conditional on category purchase. The former is modeled using the hazard-function approach and the latter using a logit model. Unobserved heterogeneity in brand preferences, marketing effects, and baseline hazard parameters is accounted for in the empirical analysis. The distribution of preference heterogeneity identifies the locations of brands in multiattribute perceptual space and the distribution of attribute importance weights 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): 16 (1998)
Issue (Month): 1 (January)
Pages: 2-12
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Handle: RePEc:bes:jnlbes:v:16:y:1998:i:1:p:2-12

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  1. Vroomen, B.L.K. & Franses, Ph.H.B.F. & Nierop, J.E.M. van, 2001. "Modeling Consideration Sets and Brand Choice Using Artificial Neural Networks," Research Paper ERS-2001-10-MKT Revision_, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
  2. D. Fok & R. Paap & P.H. Franses, 2002. "Modeling dynamic effects of promotion on interpurchase times," Econometric Institute Report 289, Erasmus University Rotterdam, Econometric Institute. [Downloadable!]
    Other versions:
  3. D. Fok & R. Paap, 2003. "Modeling category-level purchase timing with Brand-level marketing," Econometric Institute Report 320, Erasmus University Rotterdam, Econometric Institute. [Downloadable!]
  4. Kai Kopperschmidt & Winfried Stute, 2009. "Purchase timing models in marketing: a review," AStA Advances in Statistical Analysis, Springer, vol. 93(2), pages 123-149, June. [Downloadable!] (restricted)
  5. Fok, D. & Franses, Ph.H.B.F. & Paap, R., 2001. "Incorporating Responsiveness to Marketing Efforts When Modeling Brand Choice," Research Paper ERS-2001-47-MKT Revision_, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
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