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A Probabilistic Model For Testing Hypothesized Hierarchical Market Structures

Author

Listed:
  • Rajiv Grover

    (Pennsylvania State University)

  • William R. Dillon

    (City University of New York)

Abstract

In this paper a methodology for hierarchical market structure analysis is derived and illustrated. A probabilistic model is developed which provides a general, flexible framework which can be used to test hypothesized hierarchical market structures. Because the general probabilistic model can be translated in terms of a it can be easily implemented. Among its other benefits, the proposed methodology, utilizing panel data, tracks households over a number of switches, furnishes explicit statistical tests for alternative hypothesized tree structures, as well as individual parameters, and can potentially identify clusters of households who structure the market in similar ways.

Suggested Citation

  • Rajiv Grover & William R. Dillon, 1985. "A Probabilistic Model For Testing Hypothesized Hierarchical Market Structures," Marketing Science, INFORMS, vol. 4(4), pages 312-335.
    • Handle: RePEc:inm:ormksc:v:4:y:1985:i:4:p:312-335
    DOI: 10.1287/mksc.4.4.312
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    Cited by:

    1. Damangir, Sina & Du, Rex Yuxing & Hu, Ye, 2018. "Uncovering Patterns of Product Co-consideration: A Case Study of Online Vehicle Price Quote Request Data," Journal of Interactive Marketing, Elsevier, vol. 42(C), pages 1-17.
    2. Sri Duvvuri & Thomas Gruca, 2010. "A Bayesian Multi-Level Factor Analytic Model of Consumer Price Sensitivities Across Categories," Psychometrika, Springer;The Psychometric Society, vol. 75(3), pages 558-578, September.
    3. Nobuhiko Terui & Masataka Ban & Toshihiko Maki, 2010. "Finding market structure by sales count dynamics—Multivariate structural time series models with hierarchical structure for count data—," Annals of the Institute of Statistical Mathematics, Springer;The Institute of Statistical Mathematics, vol. 62(1), pages 91-107, February.
    4. A. Gürhan Kök & Yi Xu, 2011. "Optimal and Competitive Assortments with Endogenous Pricing Under Hierarchical Consumer Choice Models," Management Science, INFORMS, vol. 57(9), pages 1546-1563, February.
    5. Kannan, P. K. & Yim, Chi Kin (Bennett), 2001. "An investigation of the impact of promotions on across-submarket competition," Journal of Business Research, Elsevier, vol. 53(3), pages 137-149, September.
    6. Andrews, Rick L. & Manrai, Ajay K., 1998. "Feature-based elimination: Model and empirical comparison," European Journal of Operational Research, Elsevier, vol. 111(2), pages 248-267, December.
    7. Park, Sehoon & Jain, Dipak & Krishnamurthi, Lakshman, 1998. "A hierarchical elimination modeling approach for market structure analysis," European Journal of Operational Research, Elsevier, vol. 111(2), pages 328-350, December.

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