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...

This paper analyses the effects of the crisis on trust in national and European Union institutions within an EU27 country sample from 1999 to 2012. The paper finds that the overall negative trends in trust throughout the crisis are driven by countries from the eurozone (EA12). However, whereas...

The financial crisis has affected trust in national and European governmental institutions in different ways. This paper analyses the determinants of trust in the national and European institutions over the last decade and comes to the conclusion that inflation reduces citizens’ trust only...

We examine the drivers of inequality change in Honduras between 1991-2007, trying to understand why inequality increased in Honduras until 2005, while it was falling in most other Latin American countries. Using annual household surveys, we document first rising inequality between 1991-2005,...

The use of adaptive designs in conjoint analysis has been shown to lead to an endogeneity bias in part-worth estimates using sampling experiments. In this paper, we re-examine the endogeneity issue in light of the likelihood principle. The likelihood principle asserts that all relevant...

Marketing expenditures in the form of pricing, product development, promotion, and channel development are made to maximize profits. A challenge in evaluating the effectiveness of these expenditures is that decisions such as whether to lower prices or run promotions are made based on managers'...

We reanalyze endogenous sample selection in the context of customer scoring, targeting, and influencing decisions. Scoring relies on ordered lists of probabilities that customers act in a way that contributes revenues, e.g., purchase something from the firm. Targeting identifies constrained sets...

The random coefficients logit model is a workhorse in marketing and empirical industrial organizations research. When only aggregate data are available, it is customary to calibrate the model based on market shares as data input, even if the data are available in the form of aggregate counts....

We examine the drivers of inequality change in Honduras between 1991-2007, trying to understand why inequality increased in Honduras until 2005, while it was falling in most other Latin American countries. Using annual household surveys, we document first rising inequality between 1991-2005,...

Recent theoretical and empirical advances have brought income and wealth distributions back into a prominent position in growth and development theories, and as determinants of specific socio-economic outcomes, such as health or levels of violence and related phenomenon of inequality. To improve...