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...

I look at data from an experiment in which people rank apples according to how they think they will taste. They are then blindfolded and rank how they actually taste. I estimate a multinomial rank-ordered probit model with correlated errors between the taste and visual rankings. I find that the...

Spanish Abstract: El interés por diseñar un instrumento de medición adecuado, valido, confiable, de utilidad práctica, replicable en otros eventos deportivos y que la información obtenida facilite a los directivos tomar decisiones más adecuadas; surge cuando al revisar los modelos de...

Consumer goods manufacturers usually sell their brands to consumers through common independent retailers. Theoretical research on such channel structures has analyzed the optimal behavior of channel members under alternative assumptions of manufacturer-retailer interaction (Vertical Strategic...

For marketers, television remains the most important advertising medium. This paper proposes a two-sided model of the television industry. We estimate viewer demand for programs on one side, and advertiser demand for audiences on the other. The primary objective is to understand how each group's...

In recent years, pharmaceutical companies have increased their promotional expenditures, particularly on direct to consumer advertising (DTC) and detailing. Given the large dollar amounts involved, this study focuses on the likely effect of these expenditures on a firm's revenues. More...

Structural models have become a frontier tool in business and economics research. In this survey, we discuss the literature on structural models for the prescription drug market, which has attracted a significant attention from researchers in marketing and economics, and related fields. The...

In a competitive marketplace, the effectiveness of any element of the marketing mix is determined not only by its absolute value, but its relative value with respect to the competition. For example, the effectiveness of a price cut in increasing demand is critically related to competitors'...

While prior research has studied the motivations of individuals to consume content on social media platforms, limited work exists on how contributors are motivated to create content. We examine the role of peer influence in content production on YouTube, where content creators are competing for...

We study the prevalence of multi-attribute loss aversion and reference effects in a revenue management setting based on data of individual level purchases over a series of concert performances. The reference dependence that drives consumer choice is not only based on the price but also on...