Three Essays On Choice Modeling
DOWNLOAD
Download Three Essays On Choice Modeling PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Three Essays On Choice Modeling book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Three Essays On Choice Modeling
DOWNLOAD
Author : Tiziano Razzolini
language : en
Publisher:
Release Date : 2005
Three Essays On Choice Modeling written by Tiziano Razzolini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Three Essays On Discrete Choice Modeling With Latent Constructs
DOWNLOAD
Author : Yutaka Motoaki
language : en
Publisher:
Release Date : 2016
Three Essays On Discrete Choice Modeling With Latent Constructs written by Yutaka Motoaki and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This dissertation consists of three individual studies that are concerned with discrete choice models with latent variables. In all three studies, a special attention is paid to specification and estimation of latent constructs. The first study aims to extends the methodological framework for latent class model by incorporating latent variables in the class assignment rule. The second study focuses on goodness of fit of discrete choice models with latent variables. The last study is concerned with discrete choice models with latent variables applied in the context of hurricane evacuation. The work presented here aims to explore the complexity and challenges of modeling latent constructs that are often overlooked.
Three Essays On The Application Of Discrete Choice Models With Discrete Continuous Heterogeneity Distributions
DOWNLOAD
Author : Chen Wang
language : en
Publisher:
Release Date : 2016
Three Essays On The Application Of Discrete Choice Models With Discrete Continuous Heterogeneity Distributions written by Chen Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Unobserved heterogeneity is comprehensively acknowledged as an important feature to be considered in discrete choice modeling. Over the last decade, there were abundant studies showing the great outperformance of capturing unobserved heterogeneity of Mixed-Mixed Logit(MM-MNL) models. However, most empirical researches still use mixed logit(MIXL) models or latent class(LC) models which introduced strong assumptions on distributions of marginal utility. In this dissertation, a Mixed-Mixed Logit model(MM-MNL) that assumes a non-parametric mixing distribution for marginal utility is discussed. Consequently, three empirical studies solving different transportation problems are introduced.
Three Essays On Bayesian Choice Models Microform
DOWNLOAD
Author : Jin Gyo Kim
language : en
Publisher: National Library of Canada = Bibliothèque nationale du Canada
Release Date : 2002
Three Essays On Bayesian Choice Models Microform written by Jin Gyo Kim and has been published by National Library of Canada = Bibliothèque nationale du Canada this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Essays On Individual Choice Modeling And Analysis
DOWNLOAD
Author : Yulia Vorotyntseva
language : en
Publisher:
Release Date : 2018
Essays On Individual Choice Modeling And Analysis written by Yulia Vorotyntseva and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Management science categories.
This dissertation includes three essays. The first two essays are concerned with empirical investigation of individual choice by means of laboratory experiment, and the third one is concerned with integrating one particular behavior pattern – consumer learning – into assortment decisions. The summaries of these essays are provided below. In the first essay, we study how customers are choosing prices in a Pay-What-You-Want (PWYW) business model. Under PWYW the price for a product is fully determined by a buyer: the seller cannot reject any offer. We study two factors that can potentially affect PWYW prices: the seller’s production costs and the buyer’s private valuation of the product. We hypothesize that buyers may anticipate the seller’s loss-aversion, so they will be reluctant to choose prices below the costs, and that the prices increase as the buyer’s valuation increases. We suggest a model that incorporates this hypothetical behavior and estimate it using the dataset from a previously published experimental study. Based on the preliminary insights we obtain, we design and conduct our own controlled laboratory experiment. Our findings suggest that PWYW prices are indeed increasing on average in the buyer’s valuation and seller’s costs. In the second essay we provide the results of empirical investigation of the behavior of human assortment planners. Assortment planning, that is, the selection of products to offer in a store or the design of a product line for a manufacturer, is often performed by managers without any support from computerized optimization algorithms. The goals of our study are (1) to find if human decision makers deviate from the expected profit-maximizing solution in some systematic way and (2) to investigate the effect of decision support tools on the efficacy of assortment planners. To do this, we develop and conduct a behavioral experiment, where the subjects are repeatedly picking assortments in a simplified computerized market environment. We find that the subjects perform better when the profit maximizing assortment consists of fewer products and that subjects improve their decisions over time. The effect of decision support is somewhat surprising: under certain conditions providing subjects with more information resulted in worse performance. In the third essay, we develop a model that explicitly incorporates consumer learning into a firm’s assortment problem. Consumer’s choice of a product from a particular category is influenced by her beliefs about how well the product fits her needs. When a consumer purchases a product repeatedly, her experience with it affects her beliefs and, consequently, her future choices. By providing the consumer with an assortment to choose from, the firm increases the chances that the consumer will find a product that is suitable for her and keep purchasing from the firm in the long term. However, by doing so the firm faces a risk that a less profitable product gets substituted for a more profitable one. The model we develop allows to investigate this tradeoff analytically.
Three Essays On Using Data Mining For Covariate Interactions In Discrete Choice Models
DOWNLOAD
Author : Ingo Bentrott
language : en
Publisher:
Release Date : 2012
Three Essays On Using Data Mining For Covariate Interactions In Discrete Choice Models written by Ingo Bentrott and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Consumers' preferences categories.
Three Essays On Semiparametric Models Of Dynamic Discrete Choice Program Evaluation And The College Premium In The Eighties
DOWNLOAD
Author : Christopher Taber
language : en
Publisher:
Release Date : 1995
Three Essays On Semiparametric Models Of Dynamic Discrete Choice Program Evaluation And The College Premium In The Eighties written by Christopher Taber and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Decision making categories.
Essays In Modeling The Consumer Choice Process
DOWNLOAD
Author : Taylor Baldwin Bentley
language : en
Publisher:
Release Date : 2015
Essays In Modeling The Consumer Choice Process written by Taylor Baldwin Bentley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Electronic dissertations categories.
In this dissertation, I utilize and develop empirical tools to help academics and practitioners model the consumer's choice process. This collection of three essays strives to answer three main research questions in this theme. In the first paper, I ask: how is the consumer's purchase decision impacted by the search for general product-category information prior to search for their match with a retailer or manufacturer ("sellers")? This paper studies the impact of informational organic keyword search results on the performance of sponsored search advertising. We show that, even though advertisers can target consumers who have specific needs and preferences, for many consumers this is not a sufficient condition for search advertising to work. By allowing consumers to access content that satisfies their information requirements, informational organic results can allow consumers to learn about the product category prior to making their purchase decision. We develop a model characterize the situation in which consumers can search for general information about the product category as well as for information about the individual sellers' offerings. We estimate this model using a unique dataset of search advertising in which commercial websites are restricted in the organic listing, allowing us to identify consumer clicks as informational (from organic links) or purchase oriented (from sponsored links). With the estimation results, we show that consumer welfare is improved by 29%, while advertisers generate 19% more sales, and search engines obtain 18% more paid clicks, as compared to the scenario without informational links. We conduct counterfactuals and find that consumers, advertisers, and the search engine are significantly better off when the search engine provides "free" general information about the product. When the search engine provides information about the advertisers' specific offerings, however, there are fewer paid clicks and advertisers at high ad positions will obtain lower sales. We further investigate the implications on the equilibrium advertiser bidding strategy. Results show that advertiser bids will remain constant in the former scenario. When the search engine provides advertiser information, advertisers will increase their bids because of the increased conversion rate; however, the search engine still loses revenue due to the decreased paid clicks. The findings shed important managerial insights on how to improve the effectiveness of search advertising. In the second paper, I ask: how is the consumer's search for information, during their choice process and in an advertising context, influenced by the signaling theory of advertising? Using a dataset of travel-related keywords obtained from a search engine, we test to what extent consumers are searching and advertisers are bidding in accordance with the signaling theory of advertising in literature. We find significant evidence that consumers are more likely to click on advertisers at higher positions because they infer that such advertisers are more likely to match with their needs. Further, consumers are more likely to find a match with advertisers who have paid more for higher positions. We also find strong evidence that advertisers increase their bids when there is an improvement in the likelihood that their offerings match with consumers' needs, and the improvement cannot be readily observed by consumers prior to searching advertisers' websites. These results are consistent with the predictions from the signaling theory. We test several alternative explanations and show that they cannot fully explain the results. Furthermore, through an extension we find that advertisers can generate more clicks when competing against advertisers with higher match value. We offer an explanation for this finding based on the signaling theory. In the third paper, I ask: can we model the consumer's choice of brand as a sequential elimination of alternatives based on shared or unique aspects while incorporating continuous variables, such as price? With aggregate scanner data, marketing researchers typically estimate the mixed logit model, which accounts for non-IIA substitution patterns among brands, which arise due to similarity and dominance effects in demand. Using numerical examples and analytical illustrations, this research shows that the mixed logit model, which is widely believed to be a highly flexible characterization of brand switching behavior, is not well designed to handle non-IIA substitution patterns. The probit allows only for pair-wise inter-brand similarities, and ignores third-order or higher dependencies. In the presence of similarity and dominance effects, the mixed logit model and the probit model yield systematically distorted marketing mix elasticities. This limits the usefulness of mixed logit and probit for marketing decision-making. We propose a more flexible demand model that is an extension of the elimination-by-aspects (EBA) model (Tversky 1972a, 1972b) to handle marketing variables. The model vastly expands the domain of applicability of the EBA model to aggregate scanner data. Using an analytical closed-form that nests the traditional logit model as a special case, the EBA demand model is estimated with marketing variables from aggregate scanner data in 9 different product categories. It is compared to the mixed logit and probit models on the same datasets. In terms of multiple fit and predictive metrics (LL, BIC, MSE, MAD), the EBA model outperforms the mixed logit and the probit in a majority of categories in terms of both in-sample fit and holdout predictions. The results show significant differences in the estimated price elasticity matrices between the EBA model and the comparison models. In addition, a simulation shows that the retailer can improve gross profits up to 34.4% from pricing based on the EBA model rather than the mixed logit model. Finally, the results suggest that empirical IO researchers, who routinely use mixed logit models as inputs to oligopolistic pricing models, should consider the EBA demand model as the appropriate model of demand for differentiated products.
Network Effects And Spatial Autoregression In Mode Choice Models
DOWNLOAD
Author : Frank Goetzke
language : en
Publisher:
Release Date : 2006
Network Effects And Spatial Autoregression In Mode Choice Models written by Frank Goetzke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Network Effects And Spatial Autoregression In Mode Choice Models Three Essays In Urban Transportation Economics
DOWNLOAD
Author : Frank Goetzke
language : en
Publisher:
Release Date : 2006
Network Effects And Spatial Autoregression In Mode Choice Models Three Essays In Urban Transportation Economics written by Frank Goetzke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Transportation planners have always been aware of positive network effects in public transit use, which can be attributed to the fact that people choose transit, because other people already take it. In my second essay, I employ a spatially autoregressive mode choice mode to econometrically test for the existence of social network effects. It is found that the coefficient estimate for transit use network effects is positive and significantly different from zero. Furthermore, if social network effects are not included, it can be shown that an omitted variable bias is introduced into the model, which can lead to a systematic error in travel forecasts.