In recent years, major advances have taken place in three areas of random utility modeling: (1) semiparametric estimation, (2) computational methods for multinomial probit models, and (3) computational methods for Bayesian stimation. This paper summarizes these developments and discusses their...

An approach for capturing unobserved customer heterogeneity in structural equation modeling is proposed based on partial least squares. The method uses a modified finite-mixture distribution approach. An empirical analysis using quality, customer satisfaction and loyalty data for convenience...

Patent expiration represents a turning point for the brand losing patent protection as bioequivalent generic versions of the drug quickly enter the market at reduced prices. In this paper, we study how physician characteristics and their prescribing decisions impact the competition among...

This paper develops a Bayesian vector autoregressive model(BVAR) for the leader of the Portuguese car market to forecast the market share. The model includes five marketing decision variables.The Bayesian prior is selected on the basis of the accuracy of the out-of-sample forecasts. We find that...

There is increasing evidence suggesting that Medicare beneficiaries do not make fully informed decisions when choosing among alternative Medicare health plans. To the extent that deciphering the intricacies of alternative plans consumes time and money, the Medicare health plan market is one in...

This paper establishes the following: Random Utility Models (RUMs) that assume consistent preferences result in inconsistent and therefore irrational choice behavior. Paradoxically, it is possible to create RUMs that result in consistent choice behavior, but these models assume inconsistent...

The social networks have been growing steadily in recent years. Facebook, one of the most popular social networks, is a modern means of communication and socialization that has taken lately more ground in higher education becoming an important academic tool in the communication process. Many...