This paper discusses the role of agents’ beliefs and their implications for the economic modeling of their behavior, in particular, their behavior over time. The paper also discusses the corresponding planning problems facing both firms and consumers in their current decision making. After a general discussion of the consumer and firm problem, we discuss recent examples of some of the emerging empirical literature on dynamic choice behavior in marketing.
|Publication status||Published - 2009|
Bronnenberg, B. J., Dube, J. P., Mela, C., Albuquerque, P., Erdem, T., Gordon, B., Hanssens, D. M., Hitsch, G., & Sun, B. (2009). Measuring long run marketing effects and their implications for long run marketing decisions. Marketing Letters, 19, 367-382.