Modeling and Empirical Analysis of psychological Effects in Marketing

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This Study indicates that compromise and attraction effects, which are inconsistent with utility maximization can emerge with the generalized nested logit (GNL) and its extended models. This fact leads to these effects are consistent with (random) utility maximization. Especially, we reveal conditions on nesting rule regarding specific structure of the GNL model and its parameter set which can express these effects. Then, we conduct empirical analysis on these effects with pseudo-POS data from a questionnaire survey via the GNL model. As a result, the compromise effect can be expressed disaggregately via the GNL model.