Using Neoclassical Consumer-Choice Theory to Produce a Market Map From Purchase Data
利用新古典消费者选择理论从购买数据构建市场图谱
This article presents a new model for estimating the spatial representation of objects and preference vectors from actual choice behavior of individuals or households. It is based on neoclassical economic theory of consumer choice. The model integrates both decisions of which good(s) to buy and the quantity of purchase. Overall preference is decomposed into price effects and intrinsic preference for the good. A maximum likelihood method for estimating the model parameters is…