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| Author: | Chintagunta, P. K. |
| Title: | Research Note: Endogeneity and Heterogeneity in a Prot Demand Model: Estimation Using Aggregate Data |
| Journal: | Marketing Science
2001 : VOL. 20:4, p. 442-456 |
| Index terms: | RESEARCH ENDOGENOUS VARIABLES DEMAND |
| Language: | eng |
| Abstract: | In this paper, the authors propose a probit model as an alternative to the logit model to specify the aggregate demand functions of firms competing in oligopoly markets. The probit model avoids the HA property that affects the logit model at the individual consumer level. Furthermore, the probit model can naturally account for the distinction between the purchase incidence and brand choice decisions due to the general covariance structure assumed for the utilities of the alternative demonstrate how the parameters of the proposed mode be estimated using aggregate time series data from a market. In the estimation, the authors account for the endogene marketing variables as well as for heterogeneity across consumers. |
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