Consumer Purchase Behavior in a Frequently Bought Product Category: Estimation Issues and Managerial Insights from a Hazard Function Model with Heterogeneity
高频购买品类的消费者行为：异质性风险函数模型的估计与管理启示
Abstract We apply hazard function models to marketing data on household purchases of disposable diapers to calibrate repeat-purchase and brand-switching behaviors. In the model we allow for household-specific unobserved traits. Hazard function models with fixed-effects heterogeneity specification are computationally feasible. We directly compare the results of fixed- and random-effects heterogeneity specifications in the context of parametric and nonparametric…