There has been significant recent interest in studying consumer behavior in sponsored search advertising (SSA). Researchers have typically used daily data from search engines containing measures such as average bid, average ad position, total impressions, clicks and cost for each keyword in the...

In this paper, we address the problem of advertising attribution by developing a Hidden Markov Model (HMM) of an individual consumer's behavior based on the concept of a conversion funnel. We apply the model to a unique dataset from the online campaign for the launch of a car. We observe that...