Business Administration, Management, and Operations Commons^™

Two Marketing Essays: Evolution Of Attribute-Specific Preferences Through Consumer Learning And The Effect Of Gift Exchange On The Purchase Behavior, Ji Hong Min

Open Access Dissertations

The first essay investigates the evolution of attribute-specific preferences through consumer learning. Most extant consumer learning models allow for learning about alternative-specific preferences such as brand preference in a brand choice model. However, there exist product categories which offer many varieties of products with different attributes. In such cases, it is important to model consumer learning of attribute-specific preferences rather than simply modeling alternative-specific preferences in order to more accurately and parsimoniously describe consumer behavior. In this paper, we propose a structural model of consumer's Bayesian learning of attribute-specific preference, using scanner panel data. We show that the proposed model …