Note—Derivation of Covariance Probit Elasticities
Management Science · 1990 · Volume 36 · Issue 4
Abstract
The full covariance probit model is highly regarded due to the flexibility with which it can represent cross brand effects. Explicit formulae for these cross brand effects for the general N brand case have never appeared in print, nor have the direct elasticities for the model. This note fills that omission.
Keywords
marketing: estimation/statistical techniques, marketing: choice models
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