A Centroid-Based Approach to Solve the Bandwidth Minimization Problem

Most new product adoption models have focused on single-generation products. Only recently have researchers begun to focus on the importance of analyzing the consumers' purchase demand in multigeneration products. This paper proposes a model that incorporates both initial and repeat purchases,...

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Main Authors: LIM, Andrew, RODRIGUES, Brian, XIAO, Fei
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2004
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Online Access:https://ink.library.smu.edu.sg/lkcsb_research/2062
https://doi.org/10.1109/HICSS.2004.1265221
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spelling sg-smu-ink.lkcsb_research-30612010-09-23T12:30:04Z A Centroid-Based Approach to Solve the Bandwidth Minimization Problem LIM, Andrew RODRIGUES, Brian XIAO, Fei Most new product adoption models have focused on single-generation products. Only recently have researchers begun to focus on the importance of analyzing the consumers' purchase demand in multigeneration products. This paper proposes a model that incorporates both initial and repeat purchases, and allows for leap-hogging behavior in multi-generation technological product markets. Whereas most new product adoption models are based on aggregate market sales, the proposed model is estimated and validated on individual purchase data. Within a logistical modeling framework, our model combines purchase incidence (buy/not buy) component and brand (or "generation") choice components for each time period. These model components allow for individual heterogeneity. Purchase probabilities for buyers are captured as a function of purchase history, buyer expectations of future generations, and preferences of the currently available options.The proposed model is quite parsimonious. It requires relatively simple data for estimation. It is empirically tested using individual-level purchase data from an illustrative pilot study in the multigeneration personal computer market. The model fits and explains the individual purchase behavior reasonably well. 2004-01-05T08:00:00Z text https://ink.library.smu.edu.sg/lkcsb_research/2062 info:doi/10.1109/HICSS.2004.1265221 https://doi.org/10.1109/HICSS.2004.1265221 Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Operations and Supply Chain Management
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Operations and Supply Chain Management
spellingShingle Operations and Supply Chain Management
LIM, Andrew
RODRIGUES, Brian
XIAO, Fei
A Centroid-Based Approach to Solve the Bandwidth Minimization Problem
description Most new product adoption models have focused on single-generation products. Only recently have researchers begun to focus on the importance of analyzing the consumers' purchase demand in multigeneration products. This paper proposes a model that incorporates both initial and repeat purchases, and allows for leap-hogging behavior in multi-generation technological product markets. Whereas most new product adoption models are based on aggregate market sales, the proposed model is estimated and validated on individual purchase data. Within a logistical modeling framework, our model combines purchase incidence (buy/not buy) component and brand (or "generation") choice components for each time period. These model components allow for individual heterogeneity. Purchase probabilities for buyers are captured as a function of purchase history, buyer expectations of future generations, and preferences of the currently available options.The proposed model is quite parsimonious. It requires relatively simple data for estimation. It is empirically tested using individual-level purchase data from an illustrative pilot study in the multigeneration personal computer market. The model fits and explains the individual purchase behavior reasonably well.
format text
author LIM, Andrew
RODRIGUES, Brian
XIAO, Fei
author_facet LIM, Andrew
RODRIGUES, Brian
XIAO, Fei
author_sort LIM, Andrew
title A Centroid-Based Approach to Solve the Bandwidth Minimization Problem
title_short A Centroid-Based Approach to Solve the Bandwidth Minimization Problem
title_full A Centroid-Based Approach to Solve the Bandwidth Minimization Problem
title_fullStr A Centroid-Based Approach to Solve the Bandwidth Minimization Problem
title_full_unstemmed A Centroid-Based Approach to Solve the Bandwidth Minimization Problem
title_sort centroid-based approach to solve the bandwidth minimization problem
publisher Institutional Knowledge at Singapore Management University
publishDate 2004
url https://ink.library.smu.edu.sg/lkcsb_research/2062
https://doi.org/10.1109/HICSS.2004.1265221
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