Consumer Purchase Behavior in a Frequently Bought Product Category: Estimation Issues and Managerial Insights from a Hazard Function Model with Heterogeneity

摘要: Abstract We apply hazard function models to marketing data on household purchases of disposable diapers calibrate repeat-purchase and brand-switching behaviors. In the model we allow for household-specific unobserved traits. Hazard with fixed-effects heterogeneity specification are computationally feasible. directly compare results fixed- random-effects specifications in context parametric nonparametric duration-dependence functions. find that a rigorous test fails reject favor specification. The unimodal gamma distribution adequately captures heterogeneity.