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| Author: | Gensch, D. Soofi, E. |
| Title: | Information-theoretic estimation of individual consideration set |
| Journal: | International Journal of Research in Marketing
1995 : MAY, VOL. 12:1, p. 25-38 |
| Index terms: | LOGIT MODELS INFORMATION MARKETING |
| Language: | eng |
| Abstract: | This paper proposes an information-theoretic algorithm for estimating the consideration set. The proposed algorithm estimates the choice probabilities in the awareness sets according to the maximum entropy principle which by use of a multinational logit model, computes an individual information index for each set, identifies the weak or unacceptable alternatives for each individual, and reduces each awareness set to a consideration set. |
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