Endogeneity of marketing variables in multicategory choice models

URN to cite this document:: urn:nbn:de:bvb:355-epub-547675
DOI to cite this document:: 10.5283/epub.54767

Hruschka, Harald

License: Creative Commons Attribution 4.0
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Date of publication of this fulltext: 05 Oct 2023 10:46

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Abstract

A regressor is endogenous if it is correlated with the unobserved residual of a model. Ignoring endogeneity may lead to biased coefficients. We deal with the omitted variable bias that arises if firms set marketing variables considering factors (demand shocks) that researchers do not observe. Whereas publications on sales response or brand choice models frequently take the potential endogeneity ...