The more a small businessman understands how consumers make their choices -- their buying decisions -- the better the company marketing mix can be designed. According to authors Philip Kotler and Gary ...

The modeling of buyer behavior by stochastic brand choice models has typically involved the use of a single model to represent the behavior of all consumers though consumer heterogeneity is recognized ...

While the psychology of consumer behavior would veer off into a number of different directions in the 1950s, its core remained psychoanalytic theory brought over from Europe in the 1930s. Nothing ...

Given the advent of basket-level purchasing data of households, choice modelers are actively engaged in the development of statistical and econometric models of multi-category choice behavior of ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

An economist used gasoline purchasing data to show how consumers make buying decisions when prices jump at the pump. When gas prices went up people behaved as if they were much poorer, buying cheaper ...

Consumers are attracted to crowds in stores, but they are not likely to buy something from a crowded location, according to a new study. Consumers are attracted to crowds in stores, but they are not ...