Discrete Customer Choice Analysis
The following chapter introduces the methodology used in this part of the work to formulate a model of the price sensitivity of customers within the low-cost travel market that is based on real-world data. Following many other works on choice analysis (see below Table 9.1), the method of discrete customer choice analysis is employed here to model and understand customer purchasing behavior at a disaggregated individual decision maker level.
KeywordsDecision Maker Utility Function Discrete Choice Choice Probability Multinomial Logit Model
Unable to display preview. Download preview PDF.