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Models for purchase frequency

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  • Nadarajah, Saralees
  • Kotz, Samuel
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    Abstract

    Purchase frequency modeling began with the pioneering work of Ehrenberg [Ehrenberg, A.S.C., 1959. The pattern of consumer purchases. Applied Statistics 8, 26-41]. This note provides an extension of this work. A collection of some seventeen flexible distributions is discussed for purchase frequency modeling. The corresponding estimation procedures are derived by the method of moments and the method of maximum likelihood. An application is illustrated to a consumer purchasing data used by Ehrenberg.

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    File URL: http://www.sciencedirect.com/science/article/B6VCT-4R68NC9-7/2/57e5d435a432a3374cdd29d07b26e38b
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    Bibliographic Info

    Article provided by Elsevier in its journal European Journal of Operational Research.

    Volume (Year): 192 (2009)
    Issue (Month): 3 (February)
    Pages: 1014-1026

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    Handle: RePEc:eee:ejores:v:192:y:2009:i:3:p:1014-1026

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    Web page: http://www.elsevier.com/locate/eor

    Related research

    Keywords: Maximum likelihood Method of moments Mixture model Purchase frequency modeling;

    References

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    8. Whitmore, G. A., 1976. "Management applications of the inverse gaussian distribution," Omega, Elsevier, vol. 4(2), pages 215-223.
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    12. Prinzie, Anita & Van den Poel, Dirk, 2006. "Investigating purchasing-sequence patterns for financial services using Markov, MTD and MTDg models," European Journal of Operational Research, Elsevier, vol. 170(3), pages 710-734, May.
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    Cited by:
    1. Chun, Young H., 2012. "Monte Carlo analysis of estimation methods for the prediction of customer response patterns in direct marketing," European Journal of Operational Research, Elsevier, vol. 217(3), pages 673-678.

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