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| Author: | Seetharaman, P. B. |
| Title: | Probabilistic versus random-utility models of state dependence: an empirical comparison |
| Journal: | International Journal of Research in Marketing
2003 : MAR, VOL. 20:1, p. 87-96 |
| Index terms: | PROBABILITY MODELS BRAND CHOICE EMPIRICAL RESEARCH |
| Language: | eng |
| Abstract: | Brand choice models estimated on scanner panel data typically show that a household's brand choice process is characterized by state dependence, i.e. a household's brand choices are serially correlated over time. Two approaches have been employed by marketing researchers to estimate state dependence effects using brand choice data. In this study, the authors explicitly compare a probabilistic model versus a random utility model of state dependence both in terms of their ability to explain and predict observed brand choices of households, and in terms of the marketing mix elasticities that they yield. The authors estimate both models using scanner panel data on households' purchases in four different categories of packaged goods. |
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