search query: @author Gilboa, I. / total: 3
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| Author: | Gilboa, I. Pazgal, A. |
| Title: | Cumulative Discrete Choice |
| Journal: | Marketing Letters
2001 : VOL. 12:2, p. 119-130 |
| Index terms: | CONSUMERS CONSUMER CHOICE CONSUMER BEHAVIOUR CUSTOMERS |
| Language: | eng |
| Abstract: | The authors present a discrete choice model in which a consumer's impression of each alternative is based on her memory of past experience with this choice, and is stochastically updated whenever the alternative is chosen. The consumer remembers a cumulative utility index per alternative, and, when an alternative is chosen, the index is updated by the addition of a random variable, interpreted as instantaneous utility. The authors prove that the frequencies of choice converge, with probability 1, to limit frequencies, which can be computed from the model's parameters. |
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