This paper conducts several analyses to discuss about consumers' preference of rice brands and suggest a way to reduce the number that currently stands at about 1,700 in the Korean market. With data collected from 358 survey respondents, a conjoint analysis was conducted to identify consumers'...

Consumer preferences are changing over time. In this dissertation, we provide three studies regarding changes in consumer preferences and methods of modeling time-varying preferences. In Chapter 1, we propose a Simulated Maximum Likelihood estimation method for the random coefficient logit model...

In many categories consumers display cyclical buying: they repeatedly purchase in the category for several periods, followed by several periods of not buying. We believe that the cyclicality is a manifestation of cross-category substitution by the consumer, caused by “variety seeking”...

A Simulated Maximum Likelihood (SML) estimator for the random coefficient logit model using aggregate data is found to be more efficient than the widely used Generalized Method of Moments estimator (GMM) of Berry-Levinsohn-Pakes (1995). In particular, the SML estimator is better than the GMM...

We propose a new statistical instrument-free method to tackle the endogeneity problem. The proposed method models the joint distribution of the endogenous regressor and the error term in the structural equation of interest (the structural error) using a copula method, and it makes inferences on...

We propose a new statistical instrument-free method to tackle the endogeneity problem. The proposed method models the joint distribution of the endogenous regressor and the error term in the structural equation of interest (the structural error) using a copula method, and makes inferences on the...

Warehouse club (WC) retailers have typically expanded to new markets using stand-alone stores, rather than pursuing dense store networks as other (non-WC) retailers have in the past. While this strategy generates operating efficiencies, it also imposes high travel costs on households to shop,...

To influence demand, some online retailers post messages (e.g., “5 units or less left in stock”) on their product pages to signal impending stockouts. These “scarcity” messages provide consumers “partial” inventory information, revealing only an upper bound on the number of units...