Pub Date : 2020-08-28DOI: 10.1007/s11129-020-09229-4
D. Yavorsky, Elisabeth Honka, Keith Chen
{"title":"Consumer search in the U.S. auto industry: The role of dealership visits","authors":"D. Yavorsky, Elisabeth Honka, Keith Chen","doi":"10.1007/s11129-020-09229-4","DOIUrl":"https://doi.org/10.1007/s11129-020-09229-4","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"19 1","pages":"1 - 52"},"PeriodicalIF":1.9,"publicationDate":"2020-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-020-09229-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46547334","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-01DOI: 10.1007/s11129-019-09214-6
Raluca M. Ursu, Daria Dzyabura
{"title":"Retailers’ product location problem with consumer search","authors":"Raluca M. Ursu, Daria Dzyabura","doi":"10.1007/s11129-019-09214-6","DOIUrl":"https://doi.org/10.1007/s11129-019-09214-6","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"18 1","pages":"125-154"},"PeriodicalIF":1.9,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-019-09214-6","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41907465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-05-17DOI: 10.1007/s11129-020-09226-7
Max J. Pachali, P. Kurz, Thomas Otter
{"title":"How to generalize from a hierarchical model?","authors":"Max J. Pachali, P. Kurz, Thomas Otter","doi":"10.1007/s11129-020-09226-7","DOIUrl":"https://doi.org/10.1007/s11129-020-09226-7","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"18 1","pages":"343 - 380"},"PeriodicalIF":1.9,"publicationDate":"2020-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-020-09226-7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44504212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Models of consumer heterogeneity play a pivotal role in marketing and economics, specifically in random coefficient or mixed logit models for aggregate or individual data and in hierarchical Bayesian models of heterogeneity. In applications, the inferential target often pertains to a population beyond the sample of consumers providing the data. For example, optimal prices inferred from the model are expected to be optimal in the population and not just optimal in the observed, finite sample. The population model, random coefficients distribution, or heterogeneity distribution is the natural and correct basis for generalizations from the observed sample to the market. However, in many if not most applications standard heterogeneity models such as the multivariate normal, or its finite mixture generalization lack economic rationality because they support regions of the parameter space that contradict basic economic arguments. For example, such population distributions support positive price coefficients or preferences against fuel-efficiency in cars. Likely as a consequence, it is common practice in applied research to rely on the collection of individual level mean estimates of consumers as a representation of population preferences that often substantially reduce the support for parameters in violation of economic expectations. To overcome the choice between relying on a mis-specified heterogeneity distribution and the collection of individual level means that fail to measure heterogeneity consistently, we develop an approach that facilitates the formulation of more economically faithful heterogeneity distributions based on prior constraints. In the common situation where the heterogeneity distribution comprises both constrained and unconstrained coefficients (e.g., brand and price coefficients), the choice of subjective prior parameters is an unresolved challenge. As a solution to this problem, we propose a marginal-conditional decomposition that avoids the conflict between wanting to be more informative about constrained parameters and only weakly informative about unconstrained parameters. We show how to efficiently sample from the implied posterior and illustrate the merits of our prior as well as the drawbacks of relying on means of individual level preferences for decision-making in two illustrative case studies.
{"title":"How to generalize from a hierarchical model?","authors":"Max J. Pachali, P. Kurz, Thomas Otter","doi":"10.2139/ssrn.3018670","DOIUrl":"https://doi.org/10.2139/ssrn.3018670","url":null,"abstract":"Models of consumer heterogeneity play a pivotal role in marketing and economics, specifically in random coefficient or mixed logit models for aggregate or individual data and in hierarchical Bayesian models of heterogeneity. In applications, the inferential target often pertains to a population beyond the sample of consumers providing the data. For example, optimal prices inferred from the model are expected to be optimal in the population and not just optimal in the observed, finite sample. The population model, random coefficients distribution, or heterogeneity distribution is the natural and correct basis for generalizations from the observed sample to the market. However, in many if not most applications standard heterogeneity models such as the multivariate normal, or its finite mixture generalization lack economic rationality because they support regions of the parameter space that contradict basic economic arguments. For example, such population distributions support positive price coefficients or preferences against fuel-efficiency in cars. Likely as a consequence, it is common practice in applied research to rely on the collection of individual level mean estimates of consumers as a representation of population preferences that often substantially reduce the support for parameters in violation of economic expectations. To overcome the choice between relying on a mis-specified heterogeneity distribution and the collection of individual level means that fail to measure heterogeneity consistently, we develop an approach that facilitates the formulation of more economically faithful heterogeneity distributions based on prior constraints. In the common situation where the heterogeneity distribution comprises both constrained and unconstrained coefficients (e.g., brand and price coefficients), the choice of subjective prior parameters is an unresolved challenge. As a solution to this problem, we propose a marginal-conditional decomposition that avoids the conflict between wanting to be more informative about constrained parameters and only weakly informative about unconstrained parameters. We show how to efficiently sample from the implied posterior and illustrate the merits of our prior as well as the drawbacks of relying on means of individual level preferences for decision-making in two illustrative case studies.","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"1 1","pages":"1-38"},"PeriodicalIF":1.9,"publicationDate":"2020-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44966193","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-03-20DOI: 10.1007/s11129-020-09223-w
Aditya Jain, S. Misra, N. Rudi
{"title":"The Effect of Sales Assistance on Purchase Decisions: An analysis using retail video data","authors":"Aditya Jain, S. Misra, N. Rudi","doi":"10.1007/s11129-020-09223-w","DOIUrl":"https://doi.org/10.1007/s11129-020-09223-w","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"18 1","pages":"273 - 303"},"PeriodicalIF":1.9,"publicationDate":"2020-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-020-09223-w","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42011952","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-03-01DOI: 10.1007/s11129-022-09258-1
Sofronis Clerides, P. Courty, Yupei Ma
{"title":"Store expensiveness and consumer saving: Insights from a new decomposition of price dispersion","authors":"Sofronis Clerides, P. Courty, Yupei Ma","doi":"10.1007/s11129-022-09258-1","DOIUrl":"https://doi.org/10.1007/s11129-022-09258-1","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"21 1","pages":"65-94"},"PeriodicalIF":1.9,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45363611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-02-13DOI: 10.1007/s11129-019-09221-7
Masakazu Ishihara, E. Muller
{"title":"Software piracy and outsourcing in two-sided markets","authors":"Masakazu Ishihara, E. Muller","doi":"10.1007/s11129-019-09221-7","DOIUrl":"https://doi.org/10.1007/s11129-019-09221-7","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"18 1","pages":"61 - 124"},"PeriodicalIF":1.9,"publicationDate":"2020-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-019-09221-7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42761093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-01-09DOI: 10.1007/s11129-019-09222-6
Mitchell J. Lovett, Renana Peres, Linli Xu
{"title":"Correction to: Can your advertising really buy earned impressions? The effect of brand advertising on word of mouth","authors":"Mitchell J. Lovett, Renana Peres, Linli Xu","doi":"10.1007/s11129-019-09222-6","DOIUrl":"https://doi.org/10.1007/s11129-019-09222-6","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"36 1","pages":"469-471"},"PeriodicalIF":1.9,"publicationDate":"2020-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-019-09222-6","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52621783","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-09-09DOI: 10.1007/s11129-019-09218-2
Brett Hollenbeck
{"title":"Horizontal mergers and innovation in concentrated industries","authors":"Brett Hollenbeck","doi":"10.1007/s11129-019-09218-2","DOIUrl":"https://doi.org/10.1007/s11129-019-09218-2","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":"18 1","pages":"1 - 37"},"PeriodicalIF":1.9,"publicationDate":"2019-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-019-09218-2","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43147484","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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