MLOPT is tested with a benchmark study from the literature (AMLET) and further applied to real-life applications in the automotive industry by predicting market shares in the Low Segment of the new car market. The automotive industry is particularly interesting in that understanding the behavior of buyers and how rebates affect their preferences is very important for revenue management.Therefore, alternative specific indicator variables are generally used to model that part of the utility that cannot be incorporated in the ... attributes, meaning that each vehicle attribute vector can be written as a linear combination of the set of vehicle model indicators. ... For instance, the transactions with unusually high (a new Cavalier sale with a sale price of $ 99, 999) or low (a new Mini Cooper sale 63.
|Title||:||Numerical Optimization for Mixed Logit Models and an Application|
|Publisher||:||ProQuest - 2008|