Consideration Set Model Based on Random Regret Minimization Theory

报告人：刘常彪

报告地点：数学与统计学院415室

报告时间：2023年11月18日星期六11:30-12:30

邀请人：高巍

报告摘要：

In brand choice, consumers usually form a consideration set first and then choose products from the consideration sets. In this paper, the consumer’s choice behavior is modeled as a two-stage decision-making process: the consideration set formation stage and the product choice stage. In the first stage, we assume that consumers construct consideration sets based on the ranking of the overall utility of products. In the second stage, consumers choose a product with the minimum expected regret by comparing each attribute of products in the consideration set. In our consideration set model, the first stage is a multiattribute compensatory decision process, and the second stage is a noncompensatory choice process. Compared with a single-stage conditional logit model with utility maximization and a single-stage random regret minimization model, Monte Carlo simulation results show that our two-stage consideration set model is superior to the single-stage choice model based on both the mean bias and the root mean squared error of the estimator of model parameter.

主讲人简介：

刘常彪，广西财经学院副教授，硕士生导师。博士毕业于东北师范大学，获统计学方向博士学位。主要从事统计学习理论的研究，在统计学SCI、SSCI、CSSCI期刊上发表论文近17篇。主持或参与国家自然科学基金，内蒙古自然科学项目，内蒙古高校科研项目。金融科技与大数据技术学会理事。