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Structural Modeling in Marketing: Review and Assessment

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Author Info

  • Pradeep Chintagunta

    ()
    (Graduate School of Business, University of Chicago, 1101 East 58th Street, Chicago, Illinois 60637)

  • Tülin Erdem

    ()
    (Leonard N. Stern School of Business, New York University, Tish Hall, 40 West 4th Street, Room 913, New York, New York 10012)

  • Peter E. Rossi

    ()
    (Graduate School of Business, University of Chicago, 1101 East 58th Street, Chicago, Illinois 60637)

  • Michel Wedel

    ()
    (Robert H. Smith School of Business, 3303 Van Munching Hall, University of Maryland, College Park, Maryland 20742-1815)

Abstract

The recent marketing literature reflects a growing interest in structural models, stemming from (1) the desire to test a variety of behavioral theories with market data, and (2) recent developments that facilitate estimation of and inference for these models. Whether one should always go through the effort of developing such tightly parameterized models with the associated computational burden of estimating them and whether it pays off to make strict behavioral assumptions in terms of better decisions remain open questions. To shed some light on these issues, we provide examples of structural approaches to consumer choice and demand as well as examples where the goal is to study the nature of competition in the marketplace. From that review comes our discussion of issues in the development and application of structural models, including their estimation, testing, and validation, their applicability in the practice of marketing, and their usefulness for normative as well as descriptive purposes.

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File URL: http://dx.doi.org/10.1287/mksc.1050.0161
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Bibliographic Info

Article provided by INFORMS in its journal Marketing Science.

Volume (Year): 25 (2006)
Issue (Month): 6 (11-12)
Pages: 604-616

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Handle: RePEc:inm:ormksc:v:25:y:2006:i:6:p:604-616

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Related research

Keywords: structural models; heterogeneity; competition; endogeneity; dynamic demand models;

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Cited by:
  1. Ewing, Michael T. & Jevons, Colin P. & Khalil, Elias L., 2009. "Brand death: A developmental model of senescence," Journal of Business Research, Elsevier, vol. 62(3), pages 332-338, March.
  2. Murali Mantrala & Sönke Albers & Fabio Caldieraro & Ove Jensen & Kissan Joseph & Manfred Krafft & Chakravarthi Narasimhan & Srinath Gopalakrishna & Andris Zoltners & Rajiv Lal & Leonard Lodish, 2010. "Sales force modeling: State of the field and research agenda," Marketing Letters, Springer, vol. 21(3), pages 255-272, September.
  3. Laurette Dubé & Antoine Bechara & Ulf Böckenholt & Asim Ansari & Alain Dagher & Mark Daniel & Wayne DeSarbo & Lesley Fellows & Ross Hammond & Terry Huang & Scott Huettel & Yan Kestens & Bärbel Knä, 2009. "Towards a brain-to-society systems model of individual choice," Marketing Letters, Springer, vol. 20(1), pages 105-106, March.
  4. Bart Bronnenberg & Jean Dubé & Carl Mela & Paulo Albuquerque & Tulin Erdem & Brett Gordon & Dominique Hanssens & Guenter Hitsch & Han Hong & Baohong Sun, 2008. "Measuring long-run marketing effects and their implications for long-run marketing decisions," Marketing Letters, Springer, vol. 19(3), pages 367-382, December.
  5. Marcoul, Philippe & Weninger, Quinn, 2008. "Search and active learning with correlated information: Empirical evidence from mid-Atlantic clam fishermen," Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 1921-1948, June.
  6. Marc Fischer & Peter Leeflang & Peter Verhoef, 2010. "Drivers of peak sales for pharmaceutical brands," Quantitative Marketing and Economics, Springer, vol. 8(4), pages 429-460, December.
  7. Tian Xia & Richard Sexton, 2010. "Brand or Variety Choices and Periodic Sales as Substitute Instruments for Monopoly Price Discrimination," Review of Industrial Organization, Springer, vol. 36(4), pages 333-349, June.
  8. Kathleen Cleeren & Frank Verboven & Marnik G. Dekimpe & Katrijn Gielens, 2010. "Intra- and Interformat Competition Among Discounters and Supermarkets," Marketing Science, INFORMS, vol. 29(3), pages 456-473, 05-06.
  9. Sunil Gupta & Carl F. Mela & Jose M. Vidal-Sanz, 2009. "The value of a "free" customer," Business Economics Working Papers wb092903, Universidad Carlos III, Departamento de Economía de la Empresa.
  10. Robert Meyer & Joachim Vosgerau & Vishal Singh & Joel Urbany & Gal Zauberman & Michael Norton & Tony Cui & Brian Ratchford & Alessandro Acquisti & David Bell & Barbara Kahn, 2010. "Behavioral research and empirical modeling of marketing channels: Implications for both fields and a call for future research," Marketing Letters, Springer, vol. 21(3), pages 301-315, September.
  11. Xiaojing Dong & Pradeep Chintagunta & Puneet Manchanda, 2011. "A new multivariate count data model to study multi-category physician prescription behavior," Quantitative Marketing and Economics, Springer, vol. 9(3), pages 301-337, September.

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