Consumer spending patterns across firms and categories: Application to the size- and share-of-wallet

Offline and Online Search in Used Durables Markets

“…<Insert Therefore, an ordinal model is not appropriate (Long 1997 (Albert and Chib 1996;Chib 1992;Jang et al 2010;Li 1998;Yang et al 2006;Zellner 1996) suggests that we can employ Gibbs sampling and data augmentation to draw the exact posterior. The linear simultaneous equation model (SEM) is estimated conditioned on the augmented data which leads to a Markov chain Monte Carlo (MCMC) solution (Gelfand et al 1992;Jang et al 2010;Li 1998;Tanner and Wong 1987). This avoids a direct evaluation of the non-trivial likelihood function (Li 1998) and avoids the use of two-step estimation approach.…”

“…This avoids a direct evaluation of the non-trivial likelihood function (Li 1998) and avoids the use of two-step estimation approach. Using latent data augmentation and MCMC estimation facilitates recovery of structural parameters of an over-identified system (Jang et al 2010) and the variance of the estimates need not be corrected for, unlike the two step estimation of simultaneous equations model. Therefore, we follow the Bayesian estimation as suggested in the prior literature.…”

Food shoppers’ share of wallet: A small city case in a changing competitive environment

“…1 Share of Wallet is defined as the percentage of money a customer allocates to a particular store in a category (Jang, Prasad, & Ratchford, 2016;Koschate-Fischer, Hoyer, Stokburger-Sauer, & Engling, 2017;Mägi, 2003). yes=10.21 0.21 0.21 0.00 (0.41) (0.41) (0.41) Sample data (before/after opening of ALDI in Armidale) post-ALDI (pre-ALDI =0, post-ALDI =1) 0.54 ---(0.50) Observations 398 184 214 Source: Authors' calculations using Armidale's food shopper survey data: 2015-2016 Notes: Standard deviations in parenthesis.…”

Quantitative Research Methods in Consumer Psychology

“…Jerath et al (2014) use Bayesian approaches to provide insight into consumers' behaviours in online searching tasks. Jang et al (2016) predict consumer spending patterns and share of wallet to inform consumer targeting strategies. Swani et al (2017) demonstrate the propensity of users to popularise (i.e., like and/or comment) brand-related posts on social media.…”