Endogeneity problems in demand models occur when certain factors, unobserved by the researcher, affect both demand and the values of a marketing mix variable set by managers. For example, unobserved factors such as style, prestige, or reputation might result in higher prices for a product and...

There is theoretical and empirical evidence that consumers have limited cognitive resources and thus cannot maintain direct preferences for each choice alternative on the store shelves. Instead, they likely form their overall preferences for choice alternatives by evaluating the attributes...

Random coefficients choice models are seeing widespread adoption in marketing research, partly because of their ability to generate household-level parameter estimates with limited data. However, the power of such models may tempt researchers to trust that they continue to produce reasonable...