Discrete-Choice Models and Representative Consumer Theory

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)

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Book Synopsis Discrete-Choice Models and Representative Consumer Theory by : Jean-Pierre H. Dubé

Download or read book Discrete-Choice Models and Representative Consumer Theory written by Jean-Pierre H. Dubé and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We establish the Hurwicz-Uzawa integrability of the broad class of discrete-choice additive random-utility models of individual consumer behavior with perfect substitutes preferences and divisible goods. We derive the corresponding indirect uility function and then establish a representative consumer formulation for this entire class of models. The representative consumer is always normative, facilitating aggregate welfare analysis. These findings should be of interest to the literatures in macro, trade, industrial organization, labor and ideal price index measurement that use representative consumer models, such as CES and its variants. Our results generalize such representative consumer formulations to the broad, empirically-relevant class of models of behavior that are routinely used in the discrete-choice analysis of micro data, including specifications that do not suffer from the IIA property and that allow for heterogeneous consumer preferences and incomes. When products are indivisible, we show that Hurwicz-Uzawa integrability fails; although some model variants might satisfy a stronger version of quasi-linear integrability.

Choice Models in Marketing

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Publisher : Now Publishers Inc
ISBN 13 : 1601981643
Total Pages : 100 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Choice Models in Marketing by : Sandeep R. Chandukala

Download or read book Choice Models in Marketing written by Sandeep R. Chandukala and published by Now Publishers Inc. This book was released on 2008 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Choice Models in Marketing examines recent developments in the modeling of choice for marketing and reviews a large stream of research currently being developed by both quantitative and qualitative researches in marketing. Choice in marketing differs from other domains in that the choice context is typically very complex, and researchers' desire knowledge of the variables that ultimately lead to demand in marketplace. The marketing choice context is characterized by many choice alternatives. The aim of Choice Models in Marketing is to lay out the foundations of choice models and discuss recent advances. The authors focus on aspects of choice that can be quantitatively modeled and consider models related to a process of constrained utility maximization. By reviewing the basics of choice modeling and pointing to new developments, Choice Models in Marketing provides a platform for future research.

Discrete Choice Theory of Product Differentiation

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Publisher : MIT Press
ISBN 13 : 9780262011280
Total Pages : 454 pages
Book Rating : 4.0/5 (112 download)

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Book Synopsis Discrete Choice Theory of Product Differentiation by : Simon P. Anderson

Download or read book Discrete Choice Theory of Product Differentiation written by Simon P. Anderson and published by MIT Press. This book was released on 1992 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The discrete choice approach provides an ideal framework for describing the demands for differentiated products and can be used for studying most product differentiation models in the literature. By introducing extra dimensions of product heterogeneity, the framework also provides richer models of firm location and product selection."--BOOK JACKET.

Applied Discrete-Choice Modelling

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Publisher : Routledge
ISBN 13 : 1351140744
Total Pages : 280 pages
Book Rating : 4.3/5 (511 download)

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Book Synopsis Applied Discrete-Choice Modelling by : David A. Hensher

Download or read book Applied Discrete-Choice Modelling written by David A. Hensher and published by Routledge. This book was released on 2018-04-09 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Discrete Choice Methods with Simulation

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Publisher : Cambridge University Press
ISBN 13 : 0521766559
Total Pages : 399 pages
Book Rating : 4.5/5 (217 download)

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Book Synopsis Discrete Choice Methods with Simulation by : Kenneth Train

Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2009-07-06 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Handbook of Choice Modelling

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Publisher : Edward Elgar Publishing
ISBN 13 : 1781003157
Total Pages : 721 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Handbook of Choice Modelling by : Stephane Hess

Download or read book Handbook of Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2014-08-29 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Choice Modelling, composed of contributions from senior figures in the field, summarizes the essential analytical techniques and discusses the key current research issues. The book opens with Nobel Laureate Daniel McFadden calling for d

Discrete Choice Methods with Simulation

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Publisher : Cambridge University Press
ISBN 13 : 9780521017152
Total Pages : 346 pages
Book Rating : 4.0/5 (171 download)

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Book Synopsis Discrete Choice Methods with Simulation by : Kenneth Train

Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2003-01-13 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of contents

Choice Modelling

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Publisher : Edward Elgar Publishing
ISBN 13 : 1781007276
Total Pages : 322 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Choice Modelling by : Stephane Hess

Download or read book Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This collection of papers, by leading researchers in the field, provides an excellent view of the current state of research and applications. Exciting new techniques are presented, and realistic solutions are offered to issues that arise in applied work. It is an admirably rich volume, offering valuable insights for all readers of choice modeling.' Kenneth Train, University of California, Berkeley and NERA Economic Consulting, Inc., San Francisco, California, US 'I'm an enthusiastic fan of the ICMC, where researchers are friendly, genuinely interested in learning from and helping one another. There is much to learn because each discipline brings a different perspective to the field and to theoretical and applied problems in decision-making and choice behavior. The ICMC embodies the philosophy that most real choice problems are complex and require a cross-disciplinary approach. The papers in this volume represent an eclectic cross-section of the topics covered by key researchers in the field. I look forward to getting our PhD students and postdocs stuck into them.' Jordan Louviere, University of Technology Sydney, Australia Choice modelling has been one of the most active fields in economics over recent years. This valuable new book contains leading contributions from academics and practitioners from across the different areas of study where choice modelling is a key analytical technique, drawn from a recent international conference. Choice models explain the behaviour of individuals by quantifying their values, responses and perceptions of attributes describing the various options (alternatives) available to them. Policy makers and planners have long since recognised the potential of using choice models for guidance purposes, with applications in fields as diverse as transport analysis, healthcare, telecommunications, public service evaluation and energy. The unique mix of theoretical and applied chapters will appeal to academics, students, researchers and practitioners in various fields, as well as anyone with a general interest in the subject.

A Representative Consumer Theory of the Logit Model

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Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (46 download)

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Book Synopsis A Representative Consumer Theory of the Logit Model by : Simon P. Anderson

Download or read book A Representative Consumer Theory of the Logit Model written by Simon P. Anderson and published by . This book was released on 1986 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Discrete Choice Models

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Publisher :
ISBN 13 : 9783639228830
Total Pages : 148 pages
Book Rating : 4.2/5 (288 download)

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Book Synopsis Discrete Choice Models by : Bharat P. Bhatta

Download or read book Discrete Choice Models written by Bharat P. Bhatta and published by . This book was released on 2010-01 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discrete choice models are important tools for analysis of individual choice behavior and have been applied in diverse fields, including transport, marketing, economics, environment and so on. This book begins with discussions about basic concepts and theory underlying the econometrics of discrete choice, commonly used models, model building and tests, and applications of choice models. The third chapter categorizes different sources of errors due to the use of network-based level of service (LOS) attributes in disaggregate travel demand modeling. The fourth chapter investigates the errors in variables problem in multinomial choice modeling with an example of logit model of mode choice. The fifth chapter explores the sensitivity of model results to specification of network-based LOS attributes. The sixth chapter addresses the problems of intrazonal trips in mode choice modeling. The seventh chapter extends the analyses using the mixed logit model. I believe that the book will be useful to students, researchers and practitioners in the field of choice modeling generally and travel demand modeling particularly.

Discrete/continuous Choice Models and Consumer Heterogeneity

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Publisher :
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.:/5 (35 download)

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Book Synopsis Discrete/continuous Choice Models and Consumer Heterogeneity by : Felipe Antonio Vásquez Lavín

Download or read book Discrete/continuous Choice Models and Consumer Heterogeneity written by Felipe Antonio Vásquez Lavín and published by . This book was released on 2007 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Axiomatic choice models and duality

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Publisher : Springer Science & Business Media
ISBN 13 : 9401198314
Total Pages : 183 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis Axiomatic choice models and duality by : H.N. Weddepohl

Download or read book Axiomatic choice models and duality written by H.N. Weddepohl and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every day people frequently have to make a choice. For practical and scientific reasons therefore it is interesting to know what choices they make and how they arrive at them. An approach to this question can be made via psychology. However, it is also possible to approach it on a more formal basis. In this book Dr. Wedde pohl describes the logical structure of an individual's rational choice. It is this formal, logical approach to the decision problem that makes the book interesting reading matter for all those who are engaged in the study of individual choice. The introduction apart this study may be divided into two parts. The first part, consisting of chapters II and III, deals with choice theory on a very abstract level. In chapter II some mathematical concepts are presented and in chapter III two related choice models are treated, the first one based on preferences, the second one on choice functions. The second part consists of chapters IV, V and VI and covers consumer choice theory. After the pre sentation of the mathematical tools, two models that are extensions of the models of chapter III are dealt with. In the discussion of consumer choice theory the concept of duality plays an important role and it is found that duality is closely related to the notion of favourability introduced in chap ter II I. Mr. Weddepohl's study forms an introduction to a larger research project to develop the theory of collective choice.

Discrete Choice Methods with Simulation

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Publisher : Cambridge University Press
ISBN 13 : 1139480375
Total Pages : 399 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Discrete Choice Methods with Simulation by : Kenneth E. Train

Download or read book Discrete Choice Methods with Simulation written by Kenneth E. Train and published by Cambridge University Press. This book was released on 2009-06-30 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. This 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.

Handbook of Choice Modelling

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Publisher : Edward Elgar Publishing
ISBN 13 : 1800375638
Total Pages : 797 pages
Book Rating : 4.8/5 (3 download)

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Book Synopsis Handbook of Choice Modelling by : Stephane Hess

Download or read book Handbook of Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2024-06-05 with total page 797 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thoroughly revised second edition Handbook provides an authoritative and in-depth overview of choice modelling, covering essential topics range from data collection through model specification and estimation to analysis and use of results. It aptly emphasises the broad relevance of choice modelling when applied to a multitude of fields, including but not limited to transport, marketing, health and environmental economics.

Panel Data Discrete Choice Models of Consumer Demand

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Panel Data Discrete Choice Models of Consumer Demand by : Michael P. Keane

Download or read book Panel Data Discrete Choice Models of Consumer Demand written by Michael P. Keane and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pricing and Revenue Optimization

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Publisher : Stanford University Press
ISBN 13 : 0804781648
Total Pages : 470 pages
Book Rating : 4.8/5 (47 download)

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Book Synopsis Pricing and Revenue Optimization by : Robert Phillips

Download or read book Pricing and Revenue Optimization written by Robert Phillips and published by Stanford University Press. This book was released on 2005-08-05 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact [email protected].

Formal Choice Models in Marketing

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Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Formal Choice Models in Marketing by : Marcel Corstjens

Download or read book Formal Choice Models in Marketing written by Marcel Corstjens and published by . This book was released on 1981 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: