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A Random-Coefficients Logit Brand-Choice Model Applied to Panel Data

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  • Jain, Dipak C
  • Vilcassim, Naufel J
  • Chintagunta, Pradeep K

Abstract

A random-coefficients logit model that allows for unobserved heterogeneity in brand preferences and in the responses to marketing variables is empirically investigated using household-level panel data. The unknown underlying distribution of unobserved heterogeneity is approximated by a discrete distribution. The results reveal that there is significant unobserved heterogeneity across households and that ignoring its effects results in a downward bias in the parameter estimates of the marketing variables. It is, therefore, important to account for heterogeneity in both preferences and responses in the absence of any a priori knowledge about the nature of heterogeneity across households.

Suggested Citation

  • Jain, Dipak C & Vilcassim, Naufel J & Chintagunta, Pradeep K, 1994. "A Random-Coefficients Logit Brand-Choice Model Applied to Panel Data," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(3), pages 317-328, July.
  • Handle: RePEc:bes:jnlbes:v:12:y:1994:i:3:p:317-28
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