Estimating time-varying parameters in brand choice models: A semiparametric approach

Daniel Guhl, Bernhard Baumgartner, Thomas Kneib and Winfried J. Steiner

International Journal of Research in Marketing, 2018, vol. 35, issue 3, 394-414

Abstract: Nowadays, brand choice models are standard tools in quantitative marketing. In most applications, parameters representing brand intercepts and covariate effects are assumed to be constant over time. However, marketing theories, as well as the experience of marketing practitioners, suggest the existence of trends or short-term variations in particular parameters. Hence, having constant parameters over time is a highly restrictive assumption, which is not necessarily justified in a marketing context and may lead to biased inferences and misleading managerial insights.

Keywords: Brand choice modeling; Time-varying parameters; Heterogeneity; Semiparametric regression; P(enalized) splines (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ijrema:v:35:y:2018:i:3:p:394-414

DOI: 10.1016/j.ijresmar.2018.03.003

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