This paper investigates the role of the outside good utility function on admissible substitution patterns in multiple discrete/continuous demand models. We first present a set of novel results that characterize the functional form of quantity price effects within this class of models. The...

This monograph provides a review of choice models in marketing from the perspective of a utility maximizing consumer subject to budgetary restrictions. Marketing models of choice have undergone many transformations over the last 20 years, and the advent to hierarchical Bayes models indicate that...

The quantity of any good demanded by consumers is dependent on the attributes and benefits of an offering, the rate at which marginal utility of the offering decreases, and the availability of substitutes. Traditional conjoint models focus on attributes and benefits, but have not incorporated...

Demand for product characteristics is examined within the context of models that allow for both corner and interior solutions corresponding to zero and non-zero demand. Product attribute information is associated with marginal utility and curvature (satiation) parameters of various utility...

A choice model based on direct utility maximization subject to an arbitrary number of constraints is developed and applied to conjoint data. The model can accommodate oth corner and interior solutions, and provides insights into the proportion of respondents bound by each constraint. Application...

Consumers are often observed to purchase more than one variety of a product on a given shopping trip. The simultaneous demand for varieties is observed not only for packaged goods such as yogurt or soft drinks, but in many other product categories such as movies, music compact disks, and...

Direct utility models of consumer choice are reviewed and developed for understanding consumer preferences. We begin with a review of statistical models of choice, posing a series of modeling challenges that are resolved by considering economic foundations based on constrained utility...

Consumers often try to achieve multiple goals when purchasing products and services, where choices are sought that maximize utility and other objectives such as social desirability or risk minimization. If the choice outcomes are associated with high level of uncertainty at the time of purchase,...