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...

Demand for product characteristics is examined within the context of models that allow for both corner and interior solutions corresponding to zero and non-zero demand. Product attribute information is associated with marginal utility and curvature (satiation) parameters of various utility...

A choice model based on direct utility maximization subject to an arbitrary number of constraints is developed and applied to conjoint data. The model can accommodate oth corner and interior solutions, and provides insights into the proportion of respondents bound by each constraint. Application...

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...

In this study, we suggest a framework to investigate and recover the actual impact of extreme online ratings and to understand biases in suppliers' expectations about box office sales, based on the nature of extreme behaviors, willingness to rate and skepticism, and information symmetry in the...

Investing in micro-loan market has become one of the most famous instrument in alternative finance due to the fact that its rate of return is comparable to other risky financial instruments and it places investors in the position of philanthropists and induce “enjoyment”. In terms of...

Consumer's preference structure varies across product categories. For some durable goods, such as laptops and smartphones, consumers tend to distinguish a product from its competing ones by differences in several features ordered in their importance. Under this preference tructure, so called...