Dr. Christine Eckert is Associate Head (Research) and Associate Professor in the Marketing Discipline. Christine’s primary research interest falls into the field of quantitative modeling, with a particular interest in the choices made by market participants, defined broadly. She has researched on this topic across different disciplinary issues: such as the financial decision making of consumers, strategic governance decisions of innovation seeking companies, and corporate and consumer social responsibility. Her research has been published in leading business and health journals such as Management Science, Journal of Marketing Research, International Journal of Research in Marketing, Review of Finance and Tobacco Control.
Dr Eckert was a member of the Executive Committee of the Australian and New Zealand Marketing Academy from 2016 to 2018. She also served as a panellist on the Business & Economics 2018 Performance-Based Research Fund Quality Evaluation panel of the New Zealand Tertiary Education Commission.
Can supervise: YES
Quantitative Marketing, Choice Models, Bayesian Analysis, Behavioural Economics
- Applied Project
- Business Statistics
- International Marketing Analysis and Strategy
- Marketing Research
- New Product Marketing
- Pricing Analysis and Revenue Management
- Product Innovation Marketing
- Introduction to Marketing Research
- Pricing and Revenue Management
- Product Innovation Management
Burke, PF, Eckert, C & Sethi, S 2020, 'A Multiattribute Benefits-Based Choice Model with Multiple Mediators: New Insights for Positioning', Journal of Marketing Research.View/Download from: Publisher's site
Previous research has demonstrated that consumers evaluate products according to their perceived benefits when making a choice. This article extends prior work by proposing a method that evaluates the degree to which multiple a priori defined benefits mediate product choices. The model is the first to consider process heterogeneity—that is, heterogeneity in how consumers perceive multiple attributes to positively or negatively affect multiple benefits simultaneously and the contribution of each benefit to product utility. The authors propose discrete choice experiments to holistically measure the link between attributes and benefits, as well as between attributes and choice, resulting in data that can be analyzed with a generalized probit model. The approach contributes to mediation research by offering an alternative method of handling multiple multinomial mediators and dichotomous outcome variables. An empirical illustration of bread choices shows how consumer judgments about health and value perceptions of products mediate purchase decisions. The authors demonstrate how the method can help managers (1) confirm and test existing knowledge about latent benefits, including whether they explain all the variation in choice, and (2) consider process heterogeneity to inform market segmentation strategies.
Hoek, J, Gendall, P, Eckert, C, Louviere, J, Blank, M-L & Thrasher, J 2019, 'Young adult susceptible non-smokers' and smokers' responses to capsule cigarettes', Tobacco Control, vol. 28, pp. 498-505.View/Download from: Publisher's site
Background Flavour capsule cigarette variants (FCVs), which allow users to customise their smoking experience and reduce the harshness of smoking, have captured an increasing share of many markets. We examined tobacco companies' argument that such product innovations aim simply to shift market share, by estimating smokers' and susceptible non-smokers' responses to FCVs.
Methods We conducted an online survey of 425 smokers (daily and non-daily), susceptible non-smokers (n=224) and former smokers (n=166) aged between 18 and 25. Restrpondents completed a choice experiment, a behavioural probability measure and a perception task. We analysed the choice data using a conditional logistic regression and a rank-ordered logistic regression, and the probability and perception data using t-tests and descriptive statistics.
Results Non-smokers preferred an FCV relative to an unflavoured cigarette, whereas the opposite was the case for smokers. Susceptible non-smokers and former smokers were more likely to try a fruit flavoured FCV than an unflavoured stick, while daily smokers were more likely than non-daily smokers to do the same. Susceptible non-smokers, former smokers and non-daily smokers also had more positive perceptions of FCVs relative to unflavoured sticks than did daily smokers.
Conclusions FCVs appeal more to non-smokers than to smokers, and more to non-daily smokers than to daily smokers. They thus appear likely to recruit non-smokers and potentially increase overall smoking prevalence. Policy responses include ensuring standardised packaging legislation disallows FCVs by specifically regulating the appearance and design of tobacco products, or introducing bespoke regulation that addresses the threat posed by FCVs.
Agnew, JR, Bateman, H, Eckert, C, Iskhakov, F, Louviere, J & Thorp, S 2018, 'First Impressions Matter: An Experimental Investigation of Online Financial Advice', Management Science, vol. 64, no. 1, pp. 288-307.View/Download from: Publisher's site
We explore how individuals assess the quality of financial advice they receive and how they form judgments about advisers. Using an incentivized discrete choice experiment, we show that first impressions matter: consumers more often follow advisers who dispense good advice before bad. We demonstrate how clients' opinions of adviser quality can be manipulated by using an easily replicated confirmation strategy that depends on the quality of the advice and the difficulty and order of the advice topics. Our results also reveal how clients benefit from their own past experience and how they use professional credentials to guide their choices.
Bateman, H, Eckert, C, Iskhakov, F, Louviere, J, Satchell, S & Thorp, S 2018, 'Individual Capability and Effort in Retirement Benefit Choice', Journal of Risk and Insurance, vol. 85, no. 2, pp. 483-512.View/Download from: Publisher's site
© 2015 The Journal of Risk and Insurance. We investigate the role of individual capability and effort in the management of retirement ruin. In an experimental setting, we analyze how 854 defined contribution (DC) plan members reallocated wealth between a lifetime annuity and a phased withdrawal account when we increased the risk of exhausting the phased withdrawal account before the end of life. We find that more numerate individuals who put effort into understanding product features chose more longevity insurance at higher ruin risks. Financially literate members were more likely to show understanding of the product features, but general financial literacy did not directly improve ruin risk management. Initiatives aiming to help DC members understand income stream products at the time of the decision are warranted.
Gendall, P, Eckert, C, Hoek, J & Louviere, J 2018, 'Estimating the effects of novel on-pack warnings on young adult smokers and susceptible non-smokers', Tobacco Control, vol. 27, pp. 519-525.View/Download from: Publisher's site
Background On-pack tobacco warnings can deter smoking initiation and provide powerful cessation cues. However, these warnings typically feature graphic health images, which many young adults dismiss as irrelevant. We estimated responses to more diverse warnings and examined how these performed relative to each other.
Methods We conducted a behavioural likelihood experiment and a choice modelling experiment in which 474 smokers and 476 susceptible non-smokers aged between 16 and 30 years evaluated 12 warnings featuring health, social, financial and cosmetic themes. The choice data were analysed by estimating Sequential-Best-Worst Choice and Scale-Adjusted Latent Class Models.
Results Smokers found all test warnings aversive, particularly warnings featuring the effect of smoking on vulnerable third parties, including babies and animals, and showing a dying smoker. Susceptible non-smokers found graphic health warnings and a warning that combined graphic health with loss of physical attractiveness, significantly more aversive than other images tested.
Conclusions Illustrating the harms smoking causes to vulnerable groups may reduce the temporal distance and perceived control over smoking that young adults use to rationalise health warnings. Introducing more diverse warnings could recognise heterogeneity within smoker and susceptible non-smoker populations, and complement warnings featuring long-term health harms.
Bateman, H, Eckert, C, Iskhakov, F, Louviere, JJ, Satchell, S & Thorp, S 2017, 'Default and naive diversification heuristics in annuity choice', Australian Journal of Management, vol. 42, no. 1, pp. 32-57.View/Download from: Publisher's site
Retirement income stream products are difficult for consumers to choose because of their high perceived risk, irreversibility, high expenditure, little opportunity for social learning and distant consequences. Prior literature is unclear about consumers' use of heuristics in decumulation
decisions or whether sociodemographics can help identify vulnerable consumers. In the context of Australia's retirement income arrangements, we examine choices of life annuities and phased
withdrawal products, and identify use of default options and the diversification (1/n or 50:50) heuristic using a novel finite mixture modelling approach. The innovative feature of this approach is
that it captures the very specific allocation pattern associated with choices based on deterministic decision rules, namely pronounced spikes at the locations of the particular heuristics with little
mass in their surroundings. We show that more than 30% of decumulation choices rely on these two heuristics, and that cognitive and product knowledge limitations contribute to using such
heuristics. The results have implications for public policy on decumulation of retirement savings, regulation of product disclosures and providers of annuity and phased withdrawal products. More
generally, our model has the potential to provide better understanding of the use of heuristics in consumer decisions
Auger, P, Devinney, T, Dowling, G & Eckert, C 2016, 'Inertia and discounting in the selection of socially responsible investments: An experimental investigation', Annals in Social Responsibility, vol. 2, no. 1, pp. 29-47.View/Download from: Publisher's site
Socially responsible investment (SRI) funds have grown dramatically as an investment alternative in most of the developed world. The paper aims to discuss this issue.
This study uses a structured experimental approach to determine if the decision-making process of investors to invest in SRIs is consistent with the process used for conventional investments. The theoretical framework draws on two widely studied concepts in the decision making and investment literature, namely, inertia and discounting.
The authors find that inertia plays a significant role in the selection of SRI funds and that investors systemically discount the value of SRIs.
The results suggest that SRIs need to be designed to cater to the risk/return profiles of investors and that these investors need to be better informed about the performance of SRIs vs conventional investments to reduce their systematic discounting.
Unique experimental approach applied to investment alternatives in a manner that captures individual level variation.
Gendall, P, Eckert, C, Hoek, J, Farley, T, Louviere, J, Wilson, N & Edwards, R 2016, 'Estimating the 'consumer surplus' for branded versus standardised tobacco packaging.', Tobacco Control, vol. 25, pp. 641-647.View/Download from: Publisher's site
Tobacco companies question whether standardised (or 'plain') packaging will change smokers' behaviour. We addressed this question by estimating how standardised packaging compared to a proven tobacco control intervention, price increases through excise taxes, thus providing a quantitative measure of standardised packaging's likely effect.We conducted an online study of 311 New Zealand smokers aged 18 years and above that comprised a willingness-to-pay task comparing a branded and a standardised pack at four different price levels, and a choice experiment. The latter used an alternative-specific design, where the alternatives were a branded pack or a standardised pack, with warning theme and price varied for each pack.Respondents had higher purchase likelihoods for the branded pack (with a 30% warning) than the standardised pack (with a 75% warning) at each price level tested, and, on average, were willing to pay approximately 5% more for a branded pack. The choice experiment produced a very similar estimate of 'consumer surplus' for a branded pack. However, the size of the 'consumer surplus' varied between warning themes and by respondents' demographic characteristics.These two experiments suggest standardised packaging and larger warning labels could have a similar overall effect on adult New Zealand smokers as a 5% tobacco price increase. The findings provide further evidence for the efficacy of standardised packaging, which focuses primarily on reducing youth initiation, and suggest this measure will also bring notable benefits to adult smokers.
Hoek, J, Gendall, P, Eckert, C & Louviere, J 2016, 'Dissuasive cigarette sticks: the next step in standardised ('plain') packaging?', Tobacco Control, vol. 25, pp. 699-705.View/Download from: Publisher's site
Standardised (or 'plain') packaging has reduced the appeal of smoking by removing imagery that smokers use to affiliate themselves with the brand they smoke. We examined whether changing the appearance of cigarette sticks could further denormalise smoking and enhance the negative impact of standardised packaging.We conducted an online study of 313 New Zealand smokers who comprised a Best-Worst Choice experiment and a rating task. The Best-Worst experiment used a 2×3×3×6 orthogonal design to test the following attributes: on-pack warning message, branding level, warning size and stick appearance.We identified three segments whose members' choice patterns were strongly influenced by the stick design, warning theme and size, and warning theme, respectively. Each of the dissuasive sticks tested was less preferred and rated as less appealing than the most common stick in use; a 'minutes of life lost' stick was the most aversive of the stimuli tested.Dissuasive sticks could enhance the effect of standardised packaging, particularly among older smokers who are often more heavily addicted and resistant to change. Countries introducing standardised packaging legislation should take the opportunity to denormalise the appearance of cigarette sticks, in addition to removing external tobacco branding from packs and increasing the warning size.
Hoek, J, Gendall, P, Eckert, C, Kemper, J & Louviere, J 2016, 'Effects of brand variants on smokers' choice behaviours and risk perceptions.', Tobacco control, vol. 25, no. 2, pp. 160-165.View/Download from: Publisher's site
BACKGROUND: Australian tobacco companies have introduced evocative variant names that could re-create the aspirational connotations plain packaging aims to remove. To inform future regulation, we explored how brand descriptors affected smokers' responses to plain packs featuring different variant name combinations. METHODS: An online survey of 254 daily smokers or social smokers aged between 18 and 34 used a within-subjects best-worst experiment to estimate the relative effects of variant names. A 2×4×4×4 design contained four attributes: quality (premium or none), taste (smooth, fine, rich or none) connotation (classic, midnight, infinite or none) and colour (red, blue, white or none). In a between-subjects component, respondents evaluated one of two alternative packs according to its perceived harm and ease of quitting. RESULTS: The most important variant attribute was connotation, followed by taste, colour and quality; within these attributes, the most attractive descriptors were 'classic' and 'smooth'. We identified four distinct segments that differed significantly in their sociodemographic attributes and variant preferences, although not in their perceptions of the harm or quitting ease associated with two different variants. CONCLUSIONS: Some descriptors significantly enhance the appeal of tobacco products among different groups of smokers and may undermine plain packaging's dissuasive intent. Policymakers should explicitly regulate variant names to avoid the 'poetry on a package' evident in Australia. Options include disallowing new descriptors, limiting the number of descriptors permitted or banning descriptors altogether.
Krzeminska, A & Eckert, C 2016, 'Complementarity of internal and external R&D: Is there a difference between product versus process innovations?', R and D Management, vol. 46, no. S3, pp. 931-944.View/Download from: Publisher's site
Previous research on complementarity of research and development (R&D) has generated inconsistent results and focused predominantly on product innovations, neglecting process innovations. Although process innovations are important for firm efficiency, growth, and performance, little is known about complementarity of internal and external R&D activities in process innovations. Because of the different characteristics of knowledge involved in product versus process innovations, firms should benefit less from complementing internal with external R&D for process innovations than product innovations in terms of knowledge creation but should at the same time be less prone to the risks of unwanted knowledge transfer. Our empirical analysis of cross-sectional firm-level data of the German manufacturing sector from 2001, 2005, and 2009 comprises a direct complementarity test for product versus process innovations. The results confirm previous evidence for significant complementarities between internal and external R&D for product innovations but find limited existence of complementarity for process innovations. As implication for R&D management, our study highlights the differences between process and product innovations and how they translate into differences in complementarity of internal and external R&D activities.
Burke, PF, Eckert, C & Davis, S 2014, 'Segmenting consumers' reasons for and against ethical consumption', European Journal of Marketing, vol. 48, no. 11/12, pp. 2237-2261.View/Download from: Publisher's site
Bateman, H, Eckert, C, Geweke, J, Louviere, JJ, Satchell, SE & Thorp, SJ 2014, 'Financial competence, risk presentation and retirement portfolio preferences', Journal of Pension Economics and Finance, vol. 13, no. 1, pp. 27-61.View/Download from: Publisher's site
Frischknecht, BD, Eckert, C, Geweke, J & Louviere, JJ 2014, 'A Simple Method to Estimate Preference Parameters for Individuals', International Journal of Research in Marketing, vol. 31, pp. 35-48.View/Download from: Publisher's site
Schlereth, C, Eckert, C, Schaafq, R & Skiera, B 2014, 'Measurement of preferences with self-explicated approaches: A classification and merge of trade-off- and non-trade-off-based evaluation types', European Journal Of Operational Research, vol. 238, pp. 185-198.View/Download from: Publisher's site
How much does a company's reputation matter in recruiting?
Bateman, H, Eckert, C, Geweke, J, Louviere, JJ, Thorp, SJ & Satchell, S 2012, 'Financial competence and expectations formation: Evidence from Australia', The Economic Record, vol. 88, no. 280, pp. 39-63.View/Download from: Publisher's site
We study the financial competence of Australian retirement savers using self-assessed and quantified measures. Responses to financial literacy questions show large variation and compare poorly with some international surveys. Basic and sophisticated financial literacy vary significantly with most demographics, self-assessed financial competence, income, superannuation accumulation and net worth. General numeracy scores are largely constant across gender, age, higher education and income. Financial competence also significantly affects expectations of stock market performance. Using a discrete choice model, we show that individuals with a higher understanding of risk, diversification and financial assets are more likely to assign a probability to future financial crises rather than expressing uncertainty.
Berger, S & Eckert, C 2012, 'Customer loyalty in banking: cross buying on the German retail market', Betriebswirtschaftliche Forschung und Praxis, vol. 64, no. 4, pp. 426-443.
A major driver for customer value in retail banking is the purchase of additional products by the existing customer, so-called cross-buying. Sales of additional products benefit particularly in product categories with sequential purchase behavior (e. g.
Eckert, C, Louviere, JJ & Islam, T 2012, 'Seeing the forest despite the trees: Brand effects on choice uncertainty', International Journal of Research in Marketing, vol. 29, no. 3, pp. 256-264.View/Download from: Publisher's site
Prior research on brand equity suggests that consumers use brands as signals to reduce uncertainty and perceived risk. Erdem and Swait (1998) developed a conceptual framework based on information economics and signaling theory to explain how equity is created, maintained and transferred over time that involves seven theoretical constructs. This paper reviews the impact of brand-equity-associated brand utility on the scale of the indirect utility function (i.e., the inverse of the error variance); we argue that higher brand-equity-associated brand utility reduces the need for consumers to review previously formed preferences. We combine a brand utility experiment with a brand feature experiment to estimate the effects of brand-equity-associated brand utility scores on choice. We find that higher brand-equity-associated brand utility leads to higher choice consistency, which can drive increases in market share.
Willingness-to-pay has always been conceptualized as a point estimate, frequently as the price that makes the consumer indifferent between buying and not buying the product. In contrast, this article estimates willingness-to-pay (WTP) as an interval based on discrete choice experiments and a scale-adjusted latent-class model. The middle value of this interval corresponds to the traditional WTP point estimate and depends on the deterministic utility; the range of the interval depends on price sensitivity and the utility's error variance (scale). With this conceptualization of WTP, we propose a new measure, the attractiveness index, which serves to identify attractive consumers by combining knowledge about their price sensitivities and error variances. An empirical study demonstrates that the attractiveness index identifies the most attractive consumers, who do not necessarily have the largest WTP point estimates. Furthermore, consumers with comparable preferences can differ in their purchase probability by an average of 16%, as reflected in differences in their WTP intervals, which yields implications for more customized target marketing.
Eckert, C 2011, 'Different Channel – Different Price? INVESTIGATING THE PRACTICE OF MULTI-CHANNEL PRICE DIFFERENTIATION', GfK Marketing Intelligence Review, vol. 3, no. 2, pp. 50-53.
Price differentiation has long been recognized as a strategy that companies can use to increase profits when consumers' tastes and valuations of a good price vary. Companies engaging in price differentiation have the opportunity to increase profits considerably compared to those which use a uniform pricing strategy. Accordingly, it should be beneficial for companies to exploit the possibility of charging different prices in online and offline channels as they offer different shopping benefits and are differently valued by consumers. nevertheless, it can be observed that some multi-channel retailers prefer to charge uniform prices in online and offline channels. They argue for consistent prices across distribution channels to maintain a strong brand - and because varying prices may lead to customers' confusion, anger, irritation and perceptions of price unfairness.
Eckert, C & Klapper, D 2010, 'Modeling whether, what and how much to buy the right way: An empirical analysis with implications for model building.', Review of Managerial Science, vol. 4, no. 3, pp. 171-199.View/Download from: Publisher's site
Whether, what and how much to buy are central decisions in consumer goods markets. Marketing research commonly uses a sequential approach where quantity decision is conditional on purchase incidence and brand choice (e.g., Ailawadi et al. in J Mark Res 44:450467, 2007). This approach assumes separability between decisions and suffers from selectivity bias. The bias can be overcome by explicitly controlling for it (e.g., Zhang et al. in Rev Mark Sci 3(1), 2005) or by using one unifying utility function, a method considered ``state of the art in analyzing purchase behavior in a single product category (e.g., Song and Chintagunta in J Mark Res 44(4):595612, 2007). However, this latter method puts restrictive assumptions on the influence of prices on choices, which may affect managerial implications derived from the model results. This study investigates the effect of selectivity bias by comparing the sequential approachwith and without explicitly controlling for endogeneity biasto the unifying utility function approach. Based on household panel data from three categories, we illustrate the extent to which managerial implications from these frameworks differ. We show that the superiority of one framework versus the other depends on the specific category and its characteristics. The managerial implications of using the ``wrong framework are demonstrated by conducting two simulation studies; these show that price elasticities substantially deviate across frameworks.
Wolk, A & Eckert, C 2010, 'Multi-channel price differentiation: An empirical investigation of existence and causes', International Journal of Research in Marketing, vol. 27, no. 2, pp. 142-150.View/Download from: Publisher's site
Price differentiation has long been recognized as a strategy that companies can use to increase profits when consumers' tastes and valuations of a good differ. Operating multiple distribution channels (e.g., offline and online stores) that have varying degrees of functionality and are differently valued by consumers gives companies an opportunity to apply differential prices in these different contexts. Nevertheless, existing empirical studies suggest that multi-channel retailers charge uniform prices through their different distribution channels to preserve channel consistency and avoid consumer irritation. In this paper, we study channel-based price differentiation and empirically determine the extent of its occurrence among multichannel retailers. Additionally, we analyze factors that influence a company's decision to engage in channelbased price differentiation. The results show that multi-channel retailers recognize the opportunity to increase their profits and increasingly engage in channel-based price differentiation; this finding contradicts existing empirical studies on price dispersion. Consistent with microeconomic theory, it seems that price differentiation mostly occurs among big companies with market power that can separate markets.
This article reviews the data requirements in choice modeling in marketing research. Based on the distinction between revealed and stated choice data, the focus lies on both choosing an adequate model in the presence of unobservable exogenous variables and on the explicit construction of choice designs.
Eckert, C & Klapper, D 2009, 'Bridging the gap between ACA and CBC - The relevance of task and context effects for choice simulators', Marketing - Journal of Research and Management, vol. 2, pp. 88-100.
It is well known that preferences are not invariant across elicitation processes or contexts, suggesting that there may be systematic differences between choice and judgement tasks (Moore 2004). Thus, when predicting market shares or choices via choice simulators, such differences should be taken into consideration. Surprisingly, current choice simulators based on judgement tasks ignore them, even though the selection of choice simulator has a huge impact on the validity of predictions based on judgement tasks (Hartmann and Sattler 2004).
Klapper, D, Eckert, C & Temme, J 2005, 'Another Look at Loss Aversion in Brand Choice Data: Can we Characterize the Loss Averse Consumer?', International Journal of Research in Marketing, vol. 22, no. 3, pp. 239-254.View/Download from: Publisher's site
Much research has focused on the effects of reference prices on brand choice decisions using scanner panel data. The theory and application are well-documented and accepted. However, researchers have found contrary results on the existence of loss aversion in consumer goods markets. Loss aversion is a phenomenon based on the reference dependent theory that consumers respond more to losses (reference price < price) than to gains (reference price > price). The mixed results on the existence of loss aversion can be a result of not adequately accounting for consumer heterogeneity in response to marketing effects. Therefore, we focus our analysis on loss aversion and adequately accounting for consumer heterogeneity. We estimate a reference dependent model with a mixed logit specification that allows for a continuous distribution of response heterogeneity in the population. We use Gibbs Sampling to obtain individual estimates. Our estimation results from two different consumer goods categories, which show that the degree of loss aversion is small after properly accounting for heterogeneity. Further, we accomplish a posterior analysis and investigate whether the individual response to gains and losses can be attributed to consumer specific characteristics. The relation of the estimated individual specific variables to households' sociodemographic and psychographic variables as well as to observed purchase behavior reveal interesting insights into which consumers respond more or less to price deviations from their reference point. Hence, our results are important for the development of effective pricing strategies and the timing of price promotions.
Frischknecht, BD, Eckert, C, Louviere, JJ & Ribeiro, T 2014, 'Simple Ways to Estimate Choice Models for Single Consumers' in Hess, S & Daly, A (eds), Handbook of Choice Modelling, Edward Elgar Publishing, UK, pp. 498-518.
Daly, A, Hess, S & Eckert, C 2013, 'Workshop report: working with repeated choice data' in Hess, S & Daly, A (eds), Choice Modelling The State of the Art and the State of Practice, Edward Elgar Publishing, Cheltenham, UK, pp. 91-106.View/Download from: Publisher's site
In recent years the study of data containing multiple responses from each individual has become the approach of preference for choice modelling, mainly due to increasing reliance on data from stated choice surveys. Multiple responses offer analysts the opportunity to distinguish within-respondent from between-respondent heterogeneity, to investigate behaviour by the same respondent under a range of attribute level combinations and to study behaviours that may not exist in current markets; moreover there are often cost savings in this approach compared with alternative data capture procedures. Notwithstanding these advantages, the analysis of data containing multiple responses from individuals presents specific issues. It is necessary to make allowance for the correlation of individuals' repeated responses arising from their specific unmeasured attributes in order to avoid biases in the inferences drawn from the data. The issues involved have been known for some years and methods have been developed to deal with them, but work continues and two schools of thought can be distinguished, each offering distinct insights. The first school takes the approach of modelling responses at the aggregate (sample) level while making allowances for the repeated choice nature of the data either explicitly or through correction approaches. The second approach is to develop a model for each individual respondent, thus bypassing the issue of separating out individual-specific effects
Hoek, J, Gendall, P, Eckert, C, Kemper, J & Louviere, J 2014, 'How Do Evocative Brand Variants Affect Smokers' Choice Behaviours and Risk Perceptions?', Proceedings of 2014 ANZMAC Conference, 2014 ANZMAC Conference, ANZMAC, Brisbane, Australia, p. 185.
Hoek, J, Gendall, P, Eckert, C, Rolls, K & Louviere, J 2014, 'From Initiation Decoy to Cessation Portal: Using Packaging as an Agent of Change', Proceedings of 2014 ANZMAC Conference, 2014 ANZMAC Conference, Brisbane, Australia, p. 632.
Auger, P, Devinney, TM, Dowling, GR, Eckert, C & Perm-Ajchariyawong, N 2011, 'The value of a corporate, workplace & social reputation to potential executive employees', Academy of Management 2011 Annual Meeting - West Meets East: Enlightening. Balancing. Transcending, AOM 2011, Annual Meeting of the Academy of Management, Academy of Management, Texas, USA.View/Download from: Publisher's site
It has been readily accepted that prospective employees, including MBA students seeking jobs after graduation, put great stock in a potential employer's reputation - particularly that relating to its social responsibility and workplace practices. However, other than potentially biased results from self-report surveys we have little information as to whether or not job seekers would actually tradeoff salary and other utilitarian aspects of a job contract to work at firms with supposed greater reputational standing. In the present study we use a structured experimental approach to determine the extent to which the facets of reputation - corporate, social and workplace - drive job contract choice. We discover that while some aspects of corporate and workplace reputation matter marginally, MBA job seekers appear to put little value on social reputation. Even in the specific cases where we can discern individuals who do value social reputation, this is unrelated to their stated preferences revealed using standard survey methods. The implication is that firms seeking to entice potential executives should focus on utilitarian aspects of the employment contract that may impact their reputation rather than attempting to manipulate that reputation directly.
Eckert, C, Geweke, J, Louviere, JJ, Satchell, SE & Thorp, SJ 2011, 'Economic rationality, risk presentation, and retirement portfolio choice', Financial Management Association Annual Meeting, Denver, USA.
Frischknecht, BD, Eckert, C & Louviere, JJ 2011, 'Estimating Choice Models (or Equivalent) for Each Person in a Sample', International Choice Modelling Conference, Leeds, UK.
Eckert, C, Frischknecht, BD & Louviere, JJ 2010, 'Keep it simple: Easy ways to estimate choice models for single consumers', Proceedings of the Australian and New Zealand Marketing Academy Conference 2010, Australian and New Zealand Marketing Academy Conference, University of Canterbury, Christchurch, New Zealand, pp. 1-7.
We show with Monte-Carlo simulations and empirical choice data sets that we can quickly and simply refine choice model estimates for individuals based on methods such as ordinary least squares regression and weighted least squares regression to produce well-behaved insample and out-of-sample predictions of choices. We use well-known regression methods to estimate choice models, which should allow many more researchers to estimate choice models and be confident that they are unlikely to make serious mistakes.
Eckert, C, Hinz, O, Eckert, J & Skiera, B 2010, 'Do retailers benefit from the long tail phenomenon?', Freiburg, Germany.
Eckert, C, Louviere, JJ & Islam, T 2010, 'If I like you once, will I like you again? Brand Carryover Effects On Mean And Variance In Related Discrete Choice Experiments', Proceedings of the 39th EMAC Conference, Engineering Mathematics and Applications Conference, European Marketing Academy, Copenhagen (Denmark).
Eckert, J, Eckert, C, Skiera, B & Hinz, O 2010, 'Do retailers benefit from the long tail phenomenon?', Proceedings of the IADIS International Conference on e-Commerce, International Association for Development of the Information Society International Conference, MCCSIS, Freiburg, Germany, pp. 93-99.
The Internet and related technologies have vastly expanded the variety of products that can be profitably promoted and sold by online retailers. As a result, while in most offline markets, a few best selling products (blockbusters) generate the bulk of demand, online demand for blockbusters is often accompanied by sales for a huge number of less-selling products (niches). In response to emerging long-tailed sales distribution patterns, Anderson (2004, 2006) coined the phrase Long Tail to describe the phenomenon that niche products can gain a significant share in total sales. Most important from a retailers perspective is whether additionally offered niche products mainly substitute former existing ones or if consumers expand their demand. While the latter can generate additional profit, substitution is only beneficial if substitutes have higher margins than products that were purchased before. By using a unique data set of a monopolistic video-on-demand operator in Germany that covers all individual sales since its launch from December 2004 until August 2007, we disentangle demand for additional offered films into substitution and additional consumption. Our results reveal that demand of additionally offered films is driven by on average 86.10% additional consumption and only 13.90% substitution, suggesting huge profit potential for retailers by increasing their assortments.
Eckert, C & Klapper, D 2009, 'The long-term impact of price promotions on consumer purchase behavior: Investigating the role of consistency in price calendars', Hamilton, New Zealand.
Eckert, C & Klapper, D 2009, 'The long-term impact of price promotions on consumer purchase behavior: Investigating the role of consistency in price calendars.', Proceedings of the 5th Marketing Dynamics Conference, University of Waikato, Hamilton.
Eckert, C & Louviere, JJ 2009, 'Merging Brand Equity and Product Feature Choice Experiments to Disentangle Variance Components', INFORMS Marketing Science Conference, University of Michigan, Ann Arbor, Michigan, USA.
SchrÃ¶der, A, Eckert, C & Klapper, D 2009, 'Measuring Retailersâ Stockout Costs From Scanner Panel Data', INFORMS Marketing Science Conference, University of Michigan, Ann Arbor, Michigan, USA.
Eckert, C & Klapper, D 2008, 'Developing deal calendars in the presence of forward-looking consumers: An investigation with respect to', Conference Proceedings of Evolving Marketing Competition in the 21st Century, Evolving Marketing Competition in the 21st Century, Mainz (Germany).
Eckert, C & Klapper, D 2008, 'Developing deal calendars in the presence of forward-looking consumers: An investigation with respect to frequency, predictability, depth, and variability of promotions', Marketing Science, Vancouver, Canada.
Eckert, C & Klapper, D 2008, 'Developing deal calendars in the presence of forward-looking consumers: An investigation with respect to frequency, predictability, depth, and variability of promotions', Mainz, Germany.
Eckert, C & Klapper, D 2010, 'Dynamic effects of promotions in choice data: Differences with respect to whether, what and how much to purchase', Marketing Dynamics, Rotterdam, Netherlands.
Eckert, C & Klapper, D 2007, 'Modeling whether, what and how much to buy: Is the selectivity bias in quantity outcomes important?', Marketing Science, Singapore.
Eckert, C, Klapper, D & SchrÃ¶der, A 2007, 'Should retailers carry medium prized and medium quality brands? An empirical investigation of the compromise effect in consumer goods markets.', German-French-Austrian-Colloquium, Cergy-Pontoise, France.
Eckert, C & Klapper, D 2010, 'Investigating dynamics in purchase behavior: The determinants of whether, what and how much to purchase', Marketing Science, Pittsburgh, USA.
Eckert, C & Klapper, D 2006, 'Investigating dynamics in purchase behavior: The determinants of whether, what and how much to purchase.', Proceedings of the 35th EMAC Conference, European Marketing Academy, Athens, Greece.
Eckert, C & Klapper, D 2006, 'Investigating dynamics in purchase behavior: The determinants of whether, what and how much to purchase.', Emac, Athens, Greece.
Eckert, C, Klapper, D & Temme, J 2004, 'Investigating the effects of consumer characteristics on loss aversion using a Bayesian approach', Marketing Science, Rotterdam, Netherlands.
Agnew, JR, Bateman, H, Eckert, C, Iskhakov, F, Louviere, JJ & Thorp, S 2018, 'Learning and Confirmation Bias: Measuring the Impact of First Impressions and Ambiguous Signals'.
Louviere, J, Eckert, C & Sampson, S 2015, 'Reviews of books and teaching materials: Stated Preference Methods Using R', pp. 433-433.
Bateman, H, Eckert, C, Geweke, J, Louviere, JJ, Satchell, S & Thorp, SJ 2010, 'Economic Rationality, Risk Presentation, and Retirement Portfolio Choice'.