Bayesian methods have become widespread in the marketing literature. We review the essence of the Bayesian approach and explain why it is particularly useful for marketing problems. While the appeal of the Bayesian approach has long been noted by researchers, recent developments in computational...

Choice models in marketing and economics are generally derived without specifying the underlying cognitive process of decision making. This approach has been successfully used to predict choice behavior. However, it has not much to say about such aspects of decision making as deliberation,...

Continuous models of respondent heterogeneity assume the existence of a response function where variables of interest are continuously related to explanatory variables. In many situations this assumption may not be true. In this paper we propose an approach of modeling respondent heterogeneity...