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Assessing the predictive effectiveness of the variety seeking and reinforcement models

 

作者: Emine Sarigöllü,  

 

期刊: Applied Stochastic Models and Data Analysis  (WILEY Available online 1994)
卷期: Volume 10, issue 1  

页码: 27-46

 

ISSN:8755-0024

 

年代: 1994

 

DOI:10.1002/asm.3150100104

 

出版商: John Wiley&Sons, Ltd.

 

关键词: Stochastic brand choice models;Simulation;UPC scanner data;Bayesian cross validated likelihood procedure

 

数据来源: WILEY

 

摘要:

AbstractPrediction of customer choice behaviour has been a big challenge for marketing researchers. They have adopted various models to represent customers purchase patterns. Some researchers considered simple zero–order models. Others proposed higher–order models to represent explicitly customers tendency to seek [variety] or [reinforcement]as they make repetitive choices. Nevertheless, the question [Which model has the highest probability of representing some future data?] still prevails. The objective of this paper is to address this question. We assess the predictive effectiveness of the well–known customer choice models. In particular, we compare the predictive ability of the [dynamic attribute satiation](DAS) model due to McAlister (Journal of Consumer Research, 91, pp. 141–150, 1982) with that of the well–known stochastic variety seeking and reinforcement behaviour models. We found that the stochastic [beta binomial] model has the best predictive effectiveness on both simulated and real purchase data. Using simulations, we also assessed the effectiveness of the stochastic models in representing various complex choice processes generated by the DAS. The beta binomial model mimicked the DAS processes the best. In this research we also propose, for the first time, a stochastic choice rule for the

 

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