Related papers: Consumer Choice Over Shopping Baskets
Given the combined evidences of bounded rationality, limited information and short-term optimization, over-the-counter (OTC) fresh product markets provide a perfect instance where to develop a behavioural approach to the analysis of…
This study proposes a new approach to assessing urban accessibility using the competitive equilibrium method, an adaptation of the balancing cost method that incorporates competition among users into dual accessibility metrics. The need for…
This paper studies ranking policies in a stylized trial-offer marketplace model, in which a single firm offers products and has consumers with heterogeneous preferences. Consumer trials are influenced by past purchases and the ranking of…
Capacity restrictions in stores, maintained by mechanisms like spacing customer intake, became familiar features of retailing in the time of the pandemic. Shopping rates in a crowded store under a social distance regime is prone to…
Aesthetics drives product differentiation in industries such as fashion, interior decor, luxury goods, real estate and hospitality. However, visual differentiation is hard to encode in formal economic analysis. This paper analyses millions…
The emergence of distributed generation and the electrification of demand have opened the possibility for prosumers to participate in electricity markets, receiving economic benefits on their bills and contributing to the reduction of…
There are clear benefits associated with a particular consumer choice for many current markets. For example, as we consider here, some products might carry environmental or `green' benefits. Some consumers might value these benefits while…
This paper is concerned with a store-choice model for investigating consumers' store-choice behavior based on scanner panel data. Our store-choice model enables us to evaluate the effects of the consumer/product attributes not only on the…
An analytic model is presented that considers the evolution of a market of durable goods. The model suggests that after introduction goods spread always according to a Bass diffusion. However, this phase will be followed by a diffusion…
Linear Fisher market is one of the most fundamental economic models. The market is traditionally examined on the basis of individual's price-taking behavior. However, this assumption breaks in markets such as online advertising and…
Data regulations increasingly enable consumers to switch among market segments, making segmentation an endogenous outcome of strategic interaction. We study a model in which consumers choose segments before a monopolist sets…
Recommendation for e-commerce with a mix of durable and nondurable goods has characteristics that distinguish it from the well-studied media recommendation problem. The demand for items is a combined effect of form utility and time utility,…
As Internet-based commerce becomes increasingly widespread, large data sets about the demand for and pricing of a wide variety of products become available. These present exciting new opportunities for empirical economic and business…
We study the dynamic pricing problem faced by a monopolistic retailer who sells a storable product to forward-looking consumers. In this framework, the two major pricing policies (or mechanisms) studied in the literature are the…
The current pandemic has introduced substantial uncertainty to traditional methods for demand planning. These uncertainties stem from the disease progression, government interventions, economy and consumer behavior. While most of the…
Bundling, the practice of jointly selling two or more products at a discount, is a widely used strategy in industry and a well examined concept in academia. Historically, the focus has been on theoretical studies in the context of…
We revisit the classic Cournot model and extend it to a two-echelon supply chain with an upstream supplier who operates under demand uncertainty and multiple downstream retailers who compete over quantity. The supplier's belief about retail…
Consumer choice modeling takes center stage as we delve into understanding how personal preferences of decision makers (customers) for products influence demand at the level of the individual. The contemporary choice theory is built upon…
We study the problem of modeling purchase of multiple products and utilizing it to display optimized recommendations for online retailers and e-commerce platforms. We present a parsimonious multi-purchase family of choice models called the…
Grocery retailers frequently apply price discounts to stimulate demand for expiring perishables. However, integrating these discounted sales into future demand forecasts presents a significant challenge. This study investigates the…