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Journal article
Discrete choice models of firms' strategic decisions
Marketing letters, v 19(3-4), pp 399-416
01 Dec 2008
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
This paper outlines the methods and applications related to the nascent area of empirical discrete games in marketing. Many key strategic decisions firms make involve discrete choices such as deciding the location of a new store, determining where in product space to position a product, or what options to offer in a service contract. These decisions are fairly complex and typically involve the consideration of a number of demand, cost, and competitive factors. What makes these discrete choices particularly interesting (and challenging to analyze) is that they are interrelated with the choices of other firms because firms take into account the actions of their competitors when making their own decisions. We describe the basic problem of dealing with interrelated discrete choices in a game-theoretic framework and present the various estimation methods available. A discussion of the existing applications and future research opportunities concludes the article.
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Details
- Title
- Discrete choice models of firms' strategic decisions
- Creators
- Michaela Draganska - Stanford MedicineSanjog Misra - University of RochesterVictor Aguirregabiria - University of TorontoPat Bajari - University of MinnesotaLiran Einav - Stanford UniversityPaul Ellickson - Duke UniversityDan Horsky - University of RochesterSridhar Narayanan - Stanford MedicineYesim Orhun - University of ChicagoPeter Reiss - Stanford MedicineKatja Seim - William P. Wharton TrustVishal Singh - New York UniversityRaphael Thomadsen - Anderson University - South CarolinaTing Zhu - University of Chicago
- Publication Details
- Marketing letters, v 19(3-4), pp 399-416
- Publisher
- Springer Nature
- Number of pages
- 18
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Marketing
- Web of Science ID
- WOS:000260250300015
- Scopus ID
- 2-s2.0-54149114710
- Other Identifier
- 991021810515104721
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Business