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A Model of Heterogeneous Multicategory Choice for Market Basket Analysis

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  • Dippold, Katrin
  • Hruschka, Harald

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    Abstract

    Based on market basket data, multicategory purchase incidence models analyze demand interdependencies between product categories. We propose a finite mixture multivariate logit model to derive segment-specific intercategory effects of market basket purchase. Under the assumption that only a fraction of intercategory effects are significant, we exclude irrelevant effects by variable selection. This leads to a detailed description of consumers' shopping behavior that varies over segments not only w.r.t. parameters' values but also w.r.t. included interaction effects. We find that a homogeneous model would overestimate the intensity of interaction between product categories.

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    File URL: http://epub.uni-regensburg.de/20580/1/DP_finmix.pdf
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    Bibliographic Info

    Paper provided by University of Regensburg, Department of Economics in its series University of Regensburg Working Papers in Business, Economics and Management Information Systems with number 456.

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    Date of creation: 19 Apr 2011
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    Handle: RePEc:bay:rdwiwi:20580

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    Related research

    Keywords: Marketing; market basket analysis; finite mixture model; variable selection; multivariate logistic regression; pseudo likelihood estimation; maximum likelihood approximation; multicategory purchase incidence models;

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