Parameter Bias from Unobserved Effects in the Multinomial Logit Model of Consumer Choice

@article{Abramson2000ParameterBF,
  title={Parameter Bias from Unobserved Effects in the Multinomial Logit Model of Consumer Choice},
  author={Charles Abramson and R. Andrews and Imran S. Currim and Morgan Jones},
  journal={Journal of Marketing Research},
  year={2000},
  volume={37},
  pages={410 - 426}
}
  • Charles Abramson, R. Andrews, +1 author Morgan Jones
  • Published 2000
  • Economics
  • Journal of Marketing Research
  • Over the past two decades, validation of choice models has focused on predictive validity rather than parameter bias. In real-world validation of choice models, true parameter values are unknown, so examination of parameter bias is not possible. In contrast, the main focus of this study is parameter bias in simulated scanner-panel choice data with known parameter values. Study of parameter bias enables the assessment of a fundamental issue not addressed in the choice modeling literature—the… CONTINUE READING
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