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...

A one-to-one map between a specific demand structure and a restricted cross-elasticity matrix is developed and tested using a random utility model. The resulting demand structure can be used to evaluate a firm's ability to differentiate its products, and can help determine if demand is...

This paper provides a method for nonparametrically modeling the relationship between consumer preference for product features, such as reliability or durability, and covariates that describe consumers and how they use the product. This relationship is of interest to firms designing and...

Utility maximizing solutions to economic models of choice for goods with either discrete quantities or non-linear prices cannot always be obtained using standard first-order conditions such as Kuhn-Tucker and Roy's identity. When quantities are discrete, there is no guarantee that derivatives of...

Ultimately, patents have value to the extent to which the product features enabled by the patents have economic value in the marketplace. Products that are enhanced by inclusion of patented features should generate incremental profits. Incremental profits can be assessed by considering demand...

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...