Modelling consumer behaviour in a profile design using a three equation generalised Tobit model

  • We propose the application of a three equation generalised Tobit to model different aspects of consumer behaviour in a full profile study design. The model takes into account that consumer behaviour can be measured by preference scores, purchase probability and purchase volume. We aim to avoid the drawbacks of traditional conjoint analysis where the latter two aspects are disregarded. Starting from a full profile design, we develop the appropriate questionnaire layout, the econometric model, the likelihood function and tests. The model is applied in a market entry study for an innovative medicament after a reform of Germany´s public health system in 1993-1994. JEL Classification: C35,M31,L65

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Author:Joachim Grammig, Reinhard HujerGND
Parent Title (German):Frankfurter volkswirtschaftliche Diskussionsbeiträge ; Arbeitspapier Nr. 76
Publisher:Fachbereich Wirtschaftswiss. der Univ.
Place of publication:Frankfurt am Main
Document Type:Working Paper
Year of Completion:1997
Year of first Publication:1997
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2005/11/22
Tag:generalised tobit; market entry study
Page Number:26
Source:Frankfurter volkswirtschaftliche Diskussionsbeiträge ; 76. -
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Licence (German):License LogoDeutsches Urheberrecht