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Comparing alternatives to account for unobserved heterogeneity in direct marketing models

Schröder, Nadine and Hruschka, Harald (2017) Comparing alternatives to account for unobserved heterogeneity in direct marketing models. Decision Support Systems 103, pp. 24-33.

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Other URL: http://doi.org/10.1016/j.dss.2017.08.005


Abstract

We are dealing with mailing decisions of a direct marketing company and focus on assessing three alternative approaches to model unobserved heterogeneity, which are based on finite mixtures, continuous mixtures, and a mixture of Dirichlet processes (MDP), respectively. Models are estimated by Markov Chain Monte Carlo (MCMC) simulation. Based on Pseudo Bayes factors (PsBF), we find that a finite ...

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Item type:Article
Date:2017
Institutions:Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre
Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Marketing (Prof. Dr. Harald Hruschka)
Identification Number:
ValueType
10.1016/j.dss.2017.08.005DOI
Keywords:POSTERIOR DISTRIBUTIONS; DECISION-SUPPORT; VARIABLES; ENDOGENEITY; MIXTURE; CHOICE; Unobserved heterogeneity; Direct mailings; Hierarchical Bayesian models; Mailing effects
Dewey Decimal Classification:300 Social sciences > 330 Economics
Status:Published
Refereed:Yes, this version has been refereed
Created at the University of Regensburg:Yes
Item ID:39603
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