IDEAS home Printed from https://ideas.repec.org/a/inm/ormnsc/v22y1976i10p1051-1063.html
   My bibliography  Save this article

Equilibrium Stochastic Choice and Market Penetration Theories: Derivations and Comparisons

Author

Listed:
  • Frank M. Bass

    (Purdue University)

  • Abel Jeuland

    (Purdue University)

  • Gordon P. Wright

    (Purdue University)

Abstract

We show in this paper the formal connection between brand switching models and multiperiod analysis of brand choice behavior. A formal, well-defined stochastic process is developed from stochastic choice premises which permits analysis of any event or combination of events in terms of subsets of the market. The formal connection between single-brand analysis and multi-brand analysis is demonstrated. The parameters of the stochastic process involve the market shares and a measure of the heterogeneity of the population. This information is sufficient to permit the estimation of aggregate brand switching on adjacent trials or brand penetration and multiple brand purchasing over sequences of purchase occasions.

Suggested Citation

  • Frank M. Bass & Abel Jeuland & Gordon P. Wright, 1976. "Equilibrium Stochastic Choice and Market Penetration Theories: Derivations and Comparisons," Management Science, INFORMS, vol. 22(10), pages 1051-1063, June.
    • Handle: RePEc:inm:ormnsc:v:22:y:1976:i:10:p:1051-1063
    DOI: 10.1287/mnsc.22.10.1051
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/mnsc.22.10.1051
    Download Restriction: no
    File URL: https://libkey.io/10.1287/mnsc.22.10.1051?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. LAURENT, Gilles & RUNGIE, Cam & DALL'OLMO RILEY, Francesca & MORRISON, Donald G. & ROY, Tirthankar, 2001. "Measuring and modeling the (limited) consistency of free choice attitude questions," HEC Research Papers Series 735, HEC Paris.
    2. Elrod, Terry & Keane, Michael, 1995. "A Factor-Analytic Probit Model for Representing the Market Structure in Panel Data," MPRA Paper 52434, University Library of Munich, Germany.
    3. Silk, Alvin J. & Urban, Glen L., 1976. "Pre-test market evaluation of new packaged goods : a model and measurement methodology," Working papers 834-76., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    4. Rhee, Byong-Duk, et al, 1992. "Restoring the Principle of Minimum Differentiation in Product Positioning," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 1(3), pages 475-505, Fall.
    5. Pradeep K. Chintagunta, 1999. "Variety Seeking, Purchase Timing, and the "Lightning Bolt" Brand Choice Model," Management Science, INFORMS, vol. 45(4), pages 486-498, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:22:y:1976:i:10:p:1051-1063. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.