A dynamic multinomial probit model for brand choice with different long‐run and short‐run effects of marketing‐mix variables
营销组合变量具有不同长期与短期效应的动态多项 Probit 品牌选择模型
Abstract In this paper we propose a dynamic multinomial probit model in order to estimate the long‐run and short‐ run effects of marketing mix variables on brand choice. The latent variables, which contain the unobserved perceived utilities, follow a first‐order vector error correction autoregressive process of order 1 with current and lagged explanatory variables. The unrestricted autoregressive parameter matrix concerns the intertemporal correlation in perceived utilities…