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A Model of Balanced Choice Behavior

Author

Listed:
  • James M. Lattin

    (Stanford University)

Abstract

In some product categories, consumers appear to alternate among items in a consistent and purposeful, though not entirely deterministic, fashion. Such alternation occurs even in the absence of any apparent external influences on choice. To explain such balanced choice behavior, we present a model based upon the premise that past consumption influences the utility of items on subsequent choice occasions. Individuals may seek variety on certain product attributes and exhibit loyalty toward others. The model specification yields a logit choice model which may be calibrated using consumption diary panel data at the individual or cross-sectional level.

Suggested Citation

  • James M. Lattin, 1987. "A Model of Balanced Choice Behavior," Marketing Science, INFORMS, vol. 6(1), pages 48-65.
    • Handle: RePEc:inm:ormksc:v:6:y:1987:i:1:p:48-65
    DOI: 10.1287/mksc.6.1.48
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    Citations

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    Cited by:

    1. Daniel Fleder & Kartik Hosanagar, 2009. "Blockbuster Culture's Next Rise or Fall: The Impact of Recommender Systems on Sales Diversity," Management Science, INFORMS, vol. 55(5), pages 697-712, May.
    2. Jie Zhang & Lakshman Krishnamurthi, 2004. "Customizing Promotions in Online Stores," Marketing Science, INFORMS, vol. 23(4), pages 561-578, June.
    3. Liang Guo, 2010. "Capturing Consumption Flexibility in Assortment Choice from Scanner Panel Data," Management Science, INFORMS, vol. 56(10), pages 1815-1832, October.
    4. Manel Baucells & Rakesh K. Sarin, 2010. "Predicting Utility Under Satiation and Habit Formation," Management Science, INFORMS, vol. 56(2), pages 286-301, February.
    5. Baltas, George & Doyle, Peter, 2001. "Random utility models in marketing research: a survey," Journal of Business Research, Elsevier, vol. 51(2), pages 115-125, February.
    6. Irani-Kermani, Roozbeh & Jaenicke, Edward C., 2017. "Accommodating Heterogeneity in Brand Loyalty Estimation: Application to the U.S. Beer Retail," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258203, Agricultural and Applied Economics Association.
    7. Antonio Ladrón de Guevara, 2001. "A dynamic choice model of hybrid behavior in the attribute-space," Economics Working Papers 589, Department of Economics and Business, Universitat Pompeu Fabra.
    8. Sergi Jiménez-Martín & Antonio Ladrón de Guevara-Martínez, 2009. "A state-dependent model of hybrid behavior with rational consumers in the attribute space," Investigaciones Economicas, Fundación SEPI, vol. 33(3), pages 347-383, September.
    9. P. B. Seetharaman & Hai Che, 2009. "Price Competition in Markets with Consumer Variety Seeking," Marketing Science, INFORMS, vol. 28(3), pages 516-525, 05-06.
    10. J. Miguel Villas-Boas, 2004. "Consumer Learning, Brand Loyalty, and Competition," Marketing Science, INFORMS, vol. 23(1), pages 134-145, December.
    11. José M. Labeaga & Mercedes Martos-Partal, 2007. "A Proposal to Distinguish State Dependence and Unobserved Heterogeneity in Binary Brand Choice Models," Working Papers 2007-02, FEDEA.
    12. Irani-Kermani, Roozbeh & Jaenicke, Edward C., 2018. "Generalizing Variety Seeking Measurement from Brand Space to Product Attribute Space," 2018 Annual Meeting, August 5-7, Washington, D.C. 273818, Agricultural and Applied Economics Association.

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