Two Stochastic Multidimensional Choice Models for Marketing Research

Decision Sciences 21(1): 337-356, 1990

20 Pages Posted: 2 Jun 2016

See all articles by J. Carroll

J. Carroll

Rutgers, The State University of New Jersey (Deceased)

Geert De Soete

Ghent University

Wayne S. DeSarbo

Pennsylvania State University

Date Written: 1990

Abstract

Two recently developed probabilistic multidimensional models for analyzing pairwise choice data are introduced, discussed in terms of their differential properties, and extended in several ways. The first one, the wandering vector model, was originally suggested by Carroll and extended by De Soete and Carroll. The second model, called the wandering ideal point model, is a more recently proposed unfolding analog of the wandering vector model. A general maximum likelihood estimation method for fitting the various models described is mentioned, as well as a statistical test for assessing the goodness of fit. Finally, an application of the models is provided concerning consumer choice for some 14 brands of over-the-counter analgesics to illustrate how such models can be gainfully utilized for marketing decision making concerning product positioning.

Suggested Citation

Carroll, J. and De Soete, Geert and DeSarbo, Wayne S., Two Stochastic Multidimensional Choice Models for Marketing Research (1990). Decision Sciences 21(1): 337-356, 1990, Available at SSRN: https://ssrn.com/abstract=2787293

J. Carroll

Rutgers, The State University of New Jersey (Deceased)

Geert De Soete

Ghent University ( email )

Coupure Links 653
Gent, 9000
Belgium

Wayne S. DeSarbo (Contact Author)

Pennsylvania State University ( email )

University Park
State College, PA 16802
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
11
Abstract Views
277
PlumX Metrics