This empirical paper explores the relationship between consumer brand preference or loyalty and price elasticity in purchase behavior. This behavior is conceptualized as resulting from two distinct but related decisions, namely a brand choice decision and a purchase quantity decision. We argue...

Many consumer decisions involve a discrete choice and a continuous outcome. Examples of such decisions are whether to own a home or rent one and how much to spend, which brand of orange juice to buy and how many ounces to buy. In cases like these, the choice decision is typically modeled...