The multinomial probit model of brand choice is theoretically appealing for marketing applications as it is free from the “independence of irrelevant alternatives” property of the multinomial logit model. However, difficulties in estimation have restricted its widespread use in marketing....

In this paper we develop a general class of dynamic brand choice models, called (LB) models, which are consistent with the theory of random utility maximization of consumer choice behavior. The underlying random utility process is Markov, and the inter-temporal evolution of the...

Previous research on state dependence indicates that a brand's purchase probabilities vary over time and depend on the levels of inertia and variety seeking and on the identity of the previously purchased brand. Brand-choice probabilities obtained from models such as the logit and the probit...