We show FC-MNL is flexible in the sense of Diewert (1974), thus its parameters can be chosen to match a well-defined class of possible own-and cross-price elasticities of demand. In contrast to models ...
This paper discusses the interpretative benefits that arise from merging the Dirichlet- multinomial (DM) model as a loyalty variable in the multinomial logit (MNL) model of brand choice. The estimated ...
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