This paper provides a step-by-step guide to estimating discrete choice dynamic programming (DDP) models using the Bayesian Dynamic Programming algorithm developed in Imai, Jain and Ching (2008) (IJC). The IJC method combines the DDP solution algorithm with the Bayesian Markov Chain Monte Carlo...

For information/digital products, the used goods market has been viewed as a threat by producers. However, it is not clear if this view is justified because the used goods market also provides owners with an opportunity to sell their products. To investigate the impact of the used goods market...

'Frequent-buyer' type of rewards program is a commonly used marketing tool for companies to compete for market shares. It also provides an unique environment for studying consumer's forward-looking behavior. The consumer's problem on accumulating reward points can be formulated as a stationary...

We develop a Bayesian Markov chain Monte Carlo (MCMC) algorithm for estimating finite-horizon discrete choice dynamic programming (DDP) models. The proposed algorithm has the potential to reduce the computational burden significantly when some of the state variables are continuous. In a...

This paper provides a step-by-step guide to estimating infinite horizon discrete choice dynamic programming (DDP) models using a new Bayesian estimation algorithm (Imai, Jain and Ching, Econometrica 77:1865-1899, 2009) (IJC). In the conventional nested fixed point algorithm, most of the...

Motivated by recent empirical findings on the relationship between new clinical evidence and the effectiveness of detailing, this paper develops a new structural model of detailing and prescribing decisions under the environment where both manufacturers and physicians are uncertain about drug...

For information/digital products, the used goods market has been viewed as a threat by producers. However, it is not clear if this view is justified because the used goods market also provides owners with an opportunity to sell their products. To investigate the impact of the used goods market...

This thesis studies the interaction between new and used durable goods without physical depreciation. In product categories such as CDs/DVDs and video games, the competition from used goods markets has been viewed as a serious problem by producers. These products physically depreciate...

This paper provides a step-by-step guide to estimating discrete choice dynamic programming (DDP) models using the Bayesian Dynamic Programming algorithm developed in Imai, Jain and Ching (2008) (IJC). The IJC method combines the DDP solution algorithm with the Bayesian Markov Chain Monte Carlo...

A fundamental question in pharmaceutical marketing management is: How does the effectiveness of detailing change when additional information on drugs is revealed via patients' experiences during the product lifecycle? To address this question, we develop a model of detailing and prescribing...