Attribute-Level Heterogeneity

• Published in: Management science Vol. 61; no. 4; pp. 885 - 897
• Main Authors: Ebbes, Peter, Liechty, John C., Grewal, Rajdeep
• Format: Journal Article
• Language: English
• Published: Linthicum INFORMS 01.04.2015; Institute for Operations Research and the Management Sciences
• Subjects: Analysis; Attributes; Bayesian analysis; conjoint analysis; Consumer behavior; Heterogeneity; hierarchical Bayes; Market strategy; Market structure; Marketing; Markov analysis; Markov processes; mixture models; Monte Carlo method; Monte Carlo simulation; Random variables; Reversible; reversible-jump MCMC; segmentation; Simulation; Specification; United States

Modeling consumer heterogeneity helps practitioners understand market structures and devise effective marketing strategies. In this research we study finite mixture specifications for modeling consumer heterogeneity where each regression coefficient has its own finite mixture-that is, an attribute f...