Modeling Heterogeneity and State Dependence in Consumer Choice Behavior

1997 ◽  
Vol 15 (3) ◽  
pp. 310 ◽  
Author(s):  
Michael P. Keane
Keyword(s):  
Consumer Choice ◽  
Choice Behavior ◽  
State Dependence ◽  
Consumer Choice Behavior

A Study on Behavioral Intention of Consumers Purchasing Fine Decoration Residence Based on Logit Model

2013 ◽  
Vol 838-841 ◽  
pp. 3208-3211 ◽  
Author(s):  
Ying Wang ◽  
Jing Guo
Keyword(s):  
Willingness To Pay ◽  
Behavioral Intention ◽  
Consumer Choice ◽  
Logit Model ◽  
Choice Behavior ◽  
Main Factors ◽  
Consumer Choice Behavior

This paper use the investigation data of Xi'an as the foundation, to examine consumer choice behavior of fine decoration residence. It analyzes the main factors which influence consumer choice behavior of fine decoration residence by using logit model. The results show that culture degree of consumer, understanding of fine decoration residence, willingness to pay as well as views on the quality of the decoration and style of fine decoration residence have a significant impact on consumer decisionmaking behavior in purchasing.

Consumer Choice and Market Expansion: Modeling, Optimization, and Estimation

2021 ◽  
Author(s):  
Ruxian Wang
Keyword(s):  
Operations Management ◽  
Expectation Maximization ◽  
Consumer Choice ◽  
Choice Behavior ◽  
Real Data ◽  
Market Size ◽  
Solution Approach ◽  
Pricing Decisions ◽  
Market Expansion ◽  
Consumer Choice Behavior

The growth of market size is crucially important to firms, although researchers often assume that market size is constant in assortment and pricing management. I develop a model that incorporates the market expansion effects into discrete consumer choice models and investigate various operations problems. Market size, measured by the number of people who are interested in the products from the same category, is largely influenced by firms’ operations strategy, and it also affects assortment planning and pricing decisions. Failure to account for market expansion effects may lead to substantial losses in demand estimation and operations management. Based on real data, this paper uses an alternating-optimization expectation-maximization method that separates the estimation of consumer choice behavior and market expansion effects to calibrate the new model. The end-to-end solution approach on modeling, operations, and estimation is readily applicable in real business.

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