Marketers often analyze multinomial choice from a set of branded products to learn about demand. Given a set of brands to study, the authors analyze three reasons why choices from strict subsets of the brands can contain more statistical information about demand than choices from all the brands in the study: First, making choices from smaller subsets is easier, so it is possible to use more cho…
At Internet auction sites, such as eBay, nearly identical goods are often sold in a sequence of auctions, separated by small amounts of time. Upcoming auctions are announced several days in advance, so buyers can benefit from forward-looking strategies that take this information into account. This article develops a model of such bidding, provides empirical evidence of the model's relevance to …