Summary
Three problem areas of the Markov chain analysis are being commented on: the problem of describing inter-purchase times, the problem of aggregation, and the problem of estimation of transition matrices using prior knowledge.
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© 1976 Springer-Verlag Berlin Heidelberg
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Howard, R.A. (1976). Stochastic Process Models of Consumer Behavior. In: Mathematical Models in Marketing. Lecture Notes in Economics and Mathematical Systems, vol 132. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-51565-1_8
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DOI: https://doi.org/10.1007/978-3-642-51565-1_8
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-07869-2
Online ISBN: 978-3-642-51565-1
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