Technical Note—An Expectation-Maximization Algorithm to Estimate the Parameters of the Markov Chain Choice Model

DOI10.1287/opre.2017.1692zbMath1457.91225OpenAlexW2802469782MaRDI QIDQ4971377

Huseyin Topaloglu, A. Serdar Şimşek

Publication date: 12 October 2020

Published in: Operations Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/opre.2017.1692

zbMATH Keywords

expectation-maximizationdemand estimationchoice models

Mathematics Subject Classification ID

Applications of statistics to economics (62P20) Markov processes: estimation; hidden Markov models (62M05) Consumer behavior, demand theory (91B42)

Related Items (5)

Technical Note—Consumer Choice and Market Expansion: Modeling, Optimization, and Estimation ⋮ Robust assortment optimization under sequential product unavailability ⋮ The non-Markovian nature of nested logit choice ⋮ A gradient descent method for estimating the Markov chain choice model ⋮ Customer Choice Models vs. Machine Learning: Finding Optimal Product Displays on Alibaba

Uses Software

• PRMLT

Cites Work

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• On the convergence properties of the EM algorithm
• Estimating Primary Demand for Substitutable Products from Sales Transaction Data
• Assortment Planning and Inventory Decisions Under Stockout-Based Substitution
• Demand Estimation and Assortment Optimization Under Substitution: Methodology and Application
• Stocking Retail Assortments Under Dynamic Consumer Substitution
• New product introduction against a predator: A bilevel mixed-integer programming approach
• Convergence properties of the EM algorithm in constrained parameter spaces
• Technical Note—An Expectation-Maximization Method to Estimate a Rank-Based Choice Model of Demand

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