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Modeling marketplace behavior

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Abstract

Marketplace behavior refers to aspects of the purchase behavior of individuals and firms that leads to marketplace demand. It is characterized by the presence of many variables, most of which have nothing to do with a specific venture or specific consumer. This paper discusses three challenges of analysis commonly found in quantitative models of marketplace data: heterogeneous consumers, goal-directed behaviors, and the selective attention to some but not all variables in extended models of behavior. Bayesian solutions to these challenges are discussed.

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Authors and Affiliations

  1. Fisher College of Business, Ohio State University, Columbus, OH, USA

    Greg M. Allenby

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  1. Greg M. Allenby
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Correspondence to Greg M. Allenby.

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Allenby, G.M. Modeling marketplace behavior. J. of the Acad. Mark. Sci. 40, 155–166 (2012). https://doi.org/10.1007/s11747-011-0280-3

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  • DOI: https://doi.org/10.1007/s11747-011-0280-3

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