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| Author: | Villas-Boas, J.M. Winer, R. |
| Title: | Endogeneity in brand choice models |
| Journal: | Management Science
1999 : OCT, VOL. 45:10, p. 1324-1338 |
| Index terms: | MANAGEMENT BRAND CHOICE MODELS |
| Language: | eng |
| Abstract: | Applications of random utility models to scanner data have been widely presented in marketing for the last 20 years. One particular problem with these applications is that they have ignored possible correlations between the independent variables in the deterministic component of utility (price, promotion, etc.) and the stochastic component or error term. In fact, marketing-mix variables, such as price, not only affect brand purchasing probabilities but are themselves endogenously set by marketing managers. |
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