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| Author: | Hofacker, C. F. |
| Title: | Derivation of covariance profit elasticities. |
| Journal: | Management Science
1990 : APR, VOL. 36:4, p. 500-504 |
| Index terms: | MARKETING MODELS |
| Language: | eng |
| Abstract: | The full covariance probit model is highly regarded due to the flexibility with which it can represent cross brand effects. Explicit formulae for these cross brand effects for the general N brand case have never appeared in print, nor have the direct elasticities for the model. This note fills that omission. The full covariance probit model has features which make it a desirable model for explaining discrete choice. The model allows a rich set of relationships among a set of brands or options which constitute a choice set. |
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