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A New Model of Rational Choice

โœ Scribed by Howard Margolis


Book ID
124726729
Publisher
University of Chicago Press
Year
1981
Tongue
English
Weight
292 KB
Volume
91
Category
Article
ISSN
0014-1704

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A rational random behaviour model of cho
โœ Vanhonacker, Wilfried R. ;Winer, Russell S. ๐Ÿ“‚ Article ๐Ÿ“… 1990 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 752 KB

I n this paper, a multinomial-Dirichlet-geometric model of consumer brand choice is developed. This individual-level stochastic choice model is derived as an extension of Theil's theory of rational random behaviour. These behavioural assumptions permit modelling of changes in likelihood of purchase