The Econometric Discrete Dependent Variable Multinomial Logit Model 'An Application on a Local Furniture Market Enterprise'

Abstract:     
This paper examines the consumers’ preferences to the local furniture market in the Province of Serres. We apply a multinomial logit model to investigate the probability of buying a furniture in the following four-monthly period. We analyze also the demographic characteristics and we conclude that they are playing a major role among other factors. The questionnaire that will be analyzed in the particular project is a subset of the prototype, while the questions that were included in the initial questionnaire were too many, as a result the analysis to be quite long. So we tried to concentrate and to be restricted at the most important factors that they practice a great influence to the consumers’ choice decisions.

Number of Pages in PDF File: 28

Keywords: discrete choice models, cluster analysis, principal components, furniture market, market research

JEL Classification: C15, C35

working papers series