Consumers are often confronted with choices between options that vary in their short and long term benefit, or what we call immediate and delayed utility. This paper describes the marketing implications of what economists and psychologists have learned about how consumers make these choices. The...

In this paper, we describe a new algorithmic approach for parameter estimation in Ratcliff's [(1978). A theory of memory retrieval. Psychological Review, 85 (2), 59-108] diffusion model. This problem, especially if inter-trial variabilities of parameters are included in the model, is...