We develop a methodology for the measurement of the parameters of cumulative prospect theory and time discounting models based on tools from the preference measurement literature. These parameters are typically elicited by presenting decision makers with a series of choices between hypothetical...

Champion versus challenger field experiments are widely used to compare the performance of different targeting policies. These experiments randomly assign customers to receive marketing actions recommended by either the existing (champion) policy or the new (challenger) policy, and then compare...

Firms must often decide how to target households that did not respond to past promotions. For example, when prospecting for new customers, households that purchase are no longer eligible, and so the remaining households are an increasingly pure pool of non-responders. Past response data reflects...