Description:
Front Cover; Handbook of the Economics of Marketing, Volume 1; Copyright; Contents; Contributors; Preface; 1 Microeconometric models of consumer demand; 1 Introduction; 2 Empirical regularities in shopping behavior: The CPG laboratory; 3 The neoclassical derivation of an empirical model of individual consumer demand; 3.1 The neoclassical model of demand with binding, non-negativity constraints; 3.1.1 Estimation challenges with the neoclassical model; 3.1.2 Example: Quadratic utility; 3.1.3 Example: Linear expenditure system (LES); 3.1.4 Example: Translated CES utility
3.1.5 Virtual prices and the dual approach3.1.6 Example: Indirect translog utility; 3.2 The discrete/continuous product choice restriction in the neoclassical model; 3.2.1 The primal problem; 3.2.2 Example: Translated CES utility; 3.2.3 Example: The dual problem with indirect translog utility; 3.2.4 Promotion response: Empirical ndings using the discrete/continuous demand model; 3.3 Indivisibility and the pure discrete choice restriction in the neoclassical model; 3.3.1 A neoclassical derivation of the pure discrete choice model of demand
3.3.2 The standard pure discrete choice model of demand4 Some extensions to the typical neoclassical speci cations; 4.1 Income effects; 4.1.1 A non-homothetic discrete choice model; 4.2 Complementary goods; 4.2.1 Complementarity between products within a commodity group; 4.2.2 Complementarity between commodity groups (multi-category models); Example: Perfect substitutes within a commodity group; 4.3 Discrete package sizes and non-linear pricing; 4.3.1 Expand the choice set; 4.3.2 Models of pack size choice; 5 Moving beyond the basic neoclassical framework
5.1 Stock-piling, purchase incidence, and dynamic behavior5.1.1 Stock-piling and exogenous consumption; 5.1.2 Stock-piling and endogenous consumption; 5.1.3 Empirical ndings with stock-piling models; 5.2 The endogeneity of marketing variables; 5.2.1 Incorporating the supply side: A structural approach; 5.2.2 Incorporating the supply side: A reduced-form approach; 5.3 Behavioral economics; 5.3.1 The fungibility of income; 5.3.2 Social preferences; 6 Conclusions; References; 2 Inference for marketing decisions; 1 Introduction; 2 Frameworks for inference
2.1 A brief review of statistical properties of estimators2.2 Distributional assumptions; 2.3 Likelihood and the MLE; 2.4 Bayesian approaches; 2.4.1 The prior; 2.4.2 Bayesian computation; 2.5 Inference based on stochastic search vs. gradient-based optimization; 2.6 Decision theory; 2.6.1 Firms pro ts as a loss function; 2.6.2 Valuation of information sets; 2.7 Non-likelihood-based approaches; 2.7.1 Method of moments approaches; 2.7.2 Ad hoc approaches; 2.8 Evaluating models; 3 Heterogeneity; 3.1 Fixed and random effects; Mixed logit models; 3.2 Bayesian approach and hierarchical models