A Random-Coefficients Logit Brand-Choice Model Applied to Panel Data
用家庭面板数据检验了一个允许品牌偏好和营销变量反应存在未观测异质性的随机系数Logit模型，发现忽略异质性会导致营销变量参数估计向下偏误。
A random-coefficients logit model that allows for unobserved heterogeneity in brand preferences and in the responses to marketing variables is empirically investigated using household-level panel data. The unknown underlying distribution of unobserved heterogeneity is approximated by a discrete distribution. The results reveal that there is significant unobserved heterogeneity across households and that ignoring its effects results in a downward bias in the parameter estimates of the marketing variables. It is therefore important to account for heterogeneity in both preferences and responses in the absence of any a priori knowledge about the nature of heterogeneity across households.