The Impact of Market Segmentation on the Transferability of Discrete Choice Models
Title | The Impact of Market Segmentation on the Transferability of Discrete Choice Models PDF eBook |
Author | Chester G. Wilmot |
Publisher | |
Pages | 526 |
Release | 1983 |
Genre | Choice of transportation |
ISBN |
Application to transfer of logit models for work choice in Baltimore, Washington, D.C. and Minneapolis/St. Paul.
Duopoly Competition with Network Effects in Discrete Choice Models
Title | Duopoly Competition with Network Effects in Discrete Choice Models PDF eBook |
Author | Ningyuan Chen |
Publisher | |
Pages | 90 |
Release | 2020 |
Genre | |
ISBN |
We consider two firms selling products to a market of network-connected customers. Each firm is selling one product and the two products are substitutable. The customers make purchases based on the multinomial logit model and the firms compete for their purchasing probabilities. We characterize possible Nash equilibria for homogeneous network interactions and identical firms: when the network effects are weak, there is a symmetric equilibrium that the two firms evenly split the market; when the network effects are strong, there exist two asymmetric equilibria additionally, in which one firm dominates the market; interestingly, when the product quality is low and the network effects are neither too weak nor too strong, the resulting market equilibrium is never symmetric although the firms are ex ante symmetric. We extend these results along multiple directions. First, when the products have heterogeneous qualities, the firm selling inferior product can still retain market dominance in equilibrium due to the strong network effects. Second, when the network effects are heterogeneous, customers with higher social influences or larger price sensitivities are more likely to purchase either product in the symmetric equilibrium. Third, when the network consists of two communities, market segmentation may arise. Fourth, we extend to the dynamic game when the network effects build up over time to explain the first-mover advantage.
Discrete Choice Methods with Simulation
Title | Discrete Choice Methods with Simulation PDF eBook |
Author | Kenneth Train |
Publisher | Cambridge University Press |
Pages | 399 |
Release | 2009-07-06 |
Genre | Business & Economics |
ISBN | 0521766559 |
This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.
Dissertation Abstracts International
Title | Dissertation Abstracts International PDF eBook |
Author | |
Publisher | |
Pages | 744 |
Release | 1994 |
Genre | Dissertations, Academic |
ISBN |
Applied Discrete-choice Modelling
Title | Applied Discrete-choice Modelling PDF eBook |
Author | David A. Hensher |
Publisher | Taylor & Francis |
Pages | 468 |
Release | 1981 |
Genre | Decision making |
ISBN | 9780470270783 |
Discrete Choice Models Integrating Competitive Market Structure Preference Structure, and Marketing Tool Effects
Title | Discrete Choice Models Integrating Competitive Market Structure Preference Structure, and Marketing Tool Effects PDF eBook |
Author | Akihiro Inoue |
Publisher | |
Pages | 328 |
Release | 1996 |
Genre | Marketing research |
ISBN |
Applied Discrete-Choice Modelling
Title | Applied Discrete-Choice Modelling PDF eBook |
Author | David A. Hensher |
Publisher | Routledge |
Pages | 280 |
Release | 2018-04-09 |
Genre | Business & Economics |
ISBN | 1351140744 |
Originally published in 1981. Discrete-choice modelling is an area of econometrics where significant advances have been made at the research level. This book presents an overview of these advances, explaining the theory underlying the model, and explores its various applications. It shows how operational choice models can be used, and how they are particularly useful for a better understanding of consumer demand theory. It discusses particular problems connected with the model and its use, and reports on the authors’ own empirical research. This is a comprehensive survey of research developments in discrete choice modelling and its applications.