Random utility models in marketing research: a survey

Random utility (RU) models are well-established methods for describing disc rete choice behavior Recently, there has been a strong upsurge in interest driven by advances in data gathering and estimation technology. This review paper describes the principles and issues, and develops a taxonomy of thre e major families of models. The paper summarizes and classifies the differe nt approaches. The advantages and limitations of the various alternatives a re outlined. Practical issues in implementing the models are also discussed . (C) 2000 Elsevier Science Inc. All rights reserved.