earticle

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Choice is the one of the most important behaviors for practitioners and key variables that has been popularly studied in the marketing literature. Choice in marketing differs from other domains in that the choicec on text is typically very complex, and researchers' desire knowledge of the variables that ultimately lead to demand in marketplace. The premise in the economic choice models is that the choice decision is made based on constrained utility maximization process. In marketing, the academic filed has undergone significant progress in development of models for near-perfect substitutes mostly represented by logit or probit models. The choice literature also expands to the area such as multiple-discreteness, complements, multiple-constraints, andsoon. We examine recent developments in the modeling of choice for marketing and use economic theory to provide the foundation from which future trends are discussed.