Purchase-Frequency Bias in Random-Coefficients Brand-Choice Models
随机系数品牌选择模型中的购买频率偏差
Conventional random-coefficients models of conditional brand choice using panel data ignore the dependence of the random-coefficients distribution on the purchase frequencies. We show that this leads to biased estimates and propose a conditional likelihood approach to obtain unbiased estimates. Unlike alternative approaches that require observation of “no-purchase” occasions, our proposed method relies only on purchase data. Furthermore, our approach does not require that…