The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Endogeneity in Brand Choice Models
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. This work tests whether these endogeneity problems are important enough to warrant consideration when estimating random utility models with scanner panel data. Our results show that not accounting for endogeneity may result in a substantial bias in the parameter estimates.
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Cites
Sample Selection Bias as a Specification Error
Heckman, J. J. (1979) · Econometrica · doi:10.2307/1912352 · Cited by 28,779
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Metadata
- Authors
- Villas-Boas, J. M., & Winer, R. S.
- Venue
- Management Science
- Published
- 1999-10
- Volume
- 45
- Issue
- 10
- Pages
- 1324-1338
- ISSN
- 0025-1909 (ISSN-L)
- 1526-5501
- OpenAlex
- W2011845167
- Cited by
- 502
- References
- 1
- FWCI
- 34.19
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
