This chapter provides an introduction to choice models based on the principle of direct utility maximization. Models of direct utility are characterized by specifications of the utility function and accompanying budget constraint that allows separation of what is gained (i.e., utility) from that...

This monograph provides a review of choice models in marketing from the perspective of a utility maximizing consumer subject to budgetary restrictions. Marketing models of choice have undergone many transformations over the last 20 years, and the advent to hierarchical Bayes models indicate that...

The quantity of any good demanded by consumers is dependent on the attributes and benefits of an offering, the rate at which marginal utility of the offering decreases, and the availability of substitutes. Traditional conjoint models focus on attributes and benefits, but have not incorporated...

Consumers are often observed to purchase more than one variety of a product on a given shopping trip. The simultaneous demand for varieties is observed not only for packaged goods such as yogurt or soft drinks, but in many other product categories such as movies, music compact disks, and...

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...