Article thumbnail

Extensions of the Ordered Response Model Applied to Consumer Valuation of New Products

By M. Das

Abstract

In an ordered response model the observed variable is based upon classifying an unobserved variable into one out of a finite number of intervals forming a dissection of the real line (cf. Amemiya, 1981). This model considers the boundaries of the intervals as (unknown) deterministic parameters, the same for every individual. Terza (1985) extended this through the relaxation of the assumed constancy of the boundaries: he allowed the boundaries to be a linear function of observed explanatory variables. We extend the deterministic model by allowing for random boundaries that vary across individuals. A case study on consumer valuation of new products indicates that random boundaries significantly improve the standard ordered response model.

Year: 1995
OAI identifier: oai:wo.uvt.nl:117641
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • http://repository.uvt.nl/id/ir... (external link)
  • Suggested articles


    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.