Marketing researchers have used models of consumer demand to forecast future sales; to describe and test theories of consumer behavior; and to measure the response to marketing interventions. The basic framework typically starts from microfoundations of expected utility theory to obtain a...

Using a unique dataset on U.S. beer consumption, we investigate brand preferences of consumers across various social group and context related consumption scenarios (“scenarios”). As sufficient data are not available for each scenario, understanding these preferences requires us to share...

We study physicians' prescription choices when uncertainty about drug efficacy is resolved through two channels: firms' marketing activities (e.g., detailing) and patients' experiences with the drugs. We first provide empirical evidence that suggests the well-understood information incentive for...