Methods and apparatus to model consumer choice sourcing
US11842358B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Jun 11, 2021 |
| Grant date | Dec 12, 2023 |
| Priority date | — |
| Expiry date | Jun 11, 2041 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0203
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Methods and apparatus are disclosed to model consumer choices. An example method includes adding, with a processor, a set of products having respondent choice data to a base multinomial logit (MNL) model, the base MNL model including an item utility parameter and a price utility parameter associated with corresponding ones of products in the set of products, generating, with the processor, a number of copies of the base MNL model to form an aggregate model based on a number of the corresponding ones of products in the set of products, each one of the number of copies of the base MNL model exhibiting an effect of an independence of irrelevant alternatives (IIA) property, proportionally affecting interrelationships, with the processor, between dissimilar ones of the number of products in the set by inserting sourcing effect values in the aggregate model to be subtracted from respective ones of the item utility parameters, estimating, with the processor, the item utility parameters of the aggregate model based on the number of copies of the base MNL model and the respondent choice data, and calculating, with the processor, the choice probability for the corresponding ones of the produ…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.