COMPARING ALTERNATIVE MODELS OF HETEROGENEITY IN CONSUMER CHOICE BEHAVIOR

By Michael P. Keane, Nada Wasi. 2012

204 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Marketing

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

In Marketing

Citations in the corpus

Counterfactual inference for consumer choice across many product categories (2019, background): “Scanner data enables the analyst to enrich the analysis in a variety of ways, for example to account for dynamics (see Keane and Wasi (2013)) for a survey.”
Panel Data Discrete Choice Models of Consumer Demand (2013, background): “And, although formally identified, estimation of large covariance matrices creates severe practical/numerical problems in discrete choice models (see Keane (1992), Keane and Wasi (2013)).”
Discrete Choice Experiments: A Guide to Model Specification, Estimation and Software (2017, background): “Keane and Wasi [32] provide a comparison of the two approaches in terms of fit and, while they do not proclaim a clear winner, they do suggest that G-MNL performs well in comparison with finite mixture models in part because the former tends to be more parsimonious.”
Correlation and scale in mixed logit models (2017, background): “Keane and Wasi (2013) tested a variety of mixed logit models on ten different datasets and found that restrictions on the full covariance were accepted in many cases, which suggests that full covariance is not needed in all situations.”
Willingness-to-Pay for Alternative Fuel Vehicle Characteristics: A Stated Choice Study for Germany (2014, background): “Furthermore, recent studies (e.g., Greene and Hensher, 2003; Lee et al., 2003; Hynes and Hanley, 2005; Shen, 2009; Hess et al., 2011; Sagebiel, 2011; Keane and Wasi, 2013) have concluded that LCMs also seem to be advantageous over mixed logit models, as they (1) do not need assumptions about the dis”
Are consumers willing to pay to let cars drive for them? Analyzing response to autonomous vehicles (2017, methodology): “The approach adopted to unobserved preference heterogeneity in this paper thus takes into consideration a mixed-mixed logit model (Bujosa et al., 2010; Greene and Hensher, 2013; Keane and Wasi, 2013), where the random willingness-to-pay parameters are distributed according to a Gaussian mixture.”