Ching, Andrew; Erdem, Tulin; Keane, Michael - Volkswirtschaftliche Fakultät, … - 2007
The workhorse brand choice models in marketing are the multinomial logit (MNL) and nested multinomial logit (NMNL …). These models place strong restrictions on how brand share and purchase incidence price elasticities are related. In this … paper, we propose a new model of brand choice, the “price consideration” (PC) model, that allows more flexibility in this …