We develop discrete choice models that account for parameter driven preference dynamics. Choice model parameters may change over time because of shifting market conditions or due to changes in attribute levels over time or because of consumer learning. In this paper we show how such preference...

The resource-based view (RBV) of the firm suggests that strategic deployment of capabilities allows strategic business units (SBUs) to exploit distinctive competencies and create sustainable competitive advantage. Following the RBV, we propose a new predictive methodology for deriving typologies...

Consumer reservation price is a key concept in marketing and economics. Theoretically, this concept has been instrumental in studying consumer purchase decisions,competitive pricing strategies,and welfare economics. Managerially,knowledge of consumer reservation prices is critical for...

Two endemic problems face researchers in the social sciences (e.g., Marketing, Economics, Psychology, and Finance): unobserved heterogeneity and measurement error in data. Structural equation modeling is a powerful tool for dealing with these difficulties using a simultaneous equation framework...

This paper develops a model for capturing continuous heterogeneity in the joint distribution of reservation prices for products and bundles. Our model is derived from utility theory and captures both within-and among-subject variability. Furthermore, it provides dollarmetric reservation prices...