A comparative analysis of neural networks and statistical methods for predicting consumer choice

Marketing Science

Volumn 16, Issue 4, 1997, Pages 370-391

  West, Patricia M ^a   Brockett, Patrick L ^a   Golden, Linda L ^a  

^a UNIVERSITY OF TEXAS AT AUSTIN   (United States)

Author keywords

Consumer decision making; Neural networks; Statistical techniques

Indexed keywords

EID: 0031283672     PISSN: 07322399     EISSN: None     Source Type: Journal    
DOI: 10.1287/mksc.16.4.370     Document Type: Article

References (55)

1. Abbott, L.F. (1996), "Statistical Analysis of Neural Networks," in Paul Smolensky, Michael C. Mozer, and David Rumelhart (Eds.), Mathematical Perspectives on Neural Networks, Mahwah, NJ: Erlbaum.
2. Anderson, John R. (1976), Language Memory and Thought, Hillsdale, NJ: Erlbaum.
3. Anderson, Norman H. (1970), "Functional Measurement and Psychophysical Judgment," Psychological Review, 77, 153-170.
4. -(1971), "Integration Theory and Attitude Change," Psychological Review, 78, 177-206.
5. -(1991), Contributions to Information Integration Theory Volume I: Cognition, Mahwah, NJ: Erlbaum.
6. Archer, Norman P., and Shouhong Wang (1993), "Application of the Back Propagation Neural Network Algorithm with Monotonicity Constraints for Two-Group Classification," Decision Sciences, 24, 60-75.
7. Brockett, Patrick L., William W. Cooper, Linda L. Golden, and Utai Pitaktong (1994), "A Neural Network Method for Obtaining an Early Warning of Insurer Insolvency," Journal of Risk and Insurance, 61, September, 40-424.
8. Chappell, Mark and Michael S. Humphreys (1994), "An Auto-Associative Neural Network for Sparse Representations: Analysis and Application of Models of Recognition and Cued Recall," Psychological Review, 101, 103-128.
9. Collins, A.M., and E.F. Loftus (1975), "A Spreading Activation Theory of Semantic Memory," Psychological Review, 82, 407-428.
10. Coombs, Clyde H. and George S. Avrunin (1977), "Single Peaked Functions and the Theory of Preference," Psychological Review, 84, 216-230.
11. Curram, Stephen P. and John Mingers (1994), "Neural Networks, Decision Tree Induction and Discriminant Analysis: An Empirical Comparison," Journal of Operational Research Society, 45, 440-450.
12. Dawes, Robin and Bernard Corrigan (1974), "Linear Models in Decision-Making," Psychological Bulletin, 81, 95-106.
13. Dutta S. and S. Shekhar (1988), "Bond Rating: A Non-Conservative Application of Neural Networks," Proceedings IEEE International Conference on Neural Networks, I1443-I1450.
14. Eberhart, Russell C. and Roy W. Dobbins (1990), Neural Network PC Tools: A Practical Guide, New York: Academic Press.
15. Einhorn, Hillel J. (1970), "The Use of Nonlinear, Noncompensatory Models of Decision Making," Psychological Bulletin, 73, 3, 221-230.
16. Elman, J. and D. Zisper (1988), "Learning the Hidden Structure of Speech," Journal of the Acoustical Society of America, 83, 1615-1626.
17. Fishbein, Martin (1967), "A Behavior Theory Approach to the Relations Between Beliefs About an Object and the Attitude Toward That Object," in Readings in Attitude Theory and Measurement, M. Fishbein (Ed.), New York: Wiley, 389-399.
18. Fukushima, K. and S. Miyake (1984), "Neocognition: A New Algorithm for Pattern Recognition Tolerant of Deformations and Shifts in Position," Pattern Recognition, 15, 455-469.
19. Funahashi, K. (1989), "On the Approximate Realization of Continuous Mappings by Neural Networks," Neural Networks, 2, 183-192.
20. Ganzach, Yoav (1995), "Nonlinear Models of Clinical Judgment: Meehl's Data Revisited," Psychological Bulletin, 118, 3, 422-429.
21. Golden, Linda L., Patrick L. Brockett, Gerald Albaum, and Juan Zatarain (1992), "The Golden Numerical Comparative Scale Format for Economical Multiobject/Multiattribute Comparison Questionnaires," Journal of Official Statistics, 8, 77-86.
22. Green, Paul and V. Srinivasan (1978), "Conjoint Measurement in Consumer Research: Issues and Outlook," Journal of Consumer Research, 5, September, 103-123.
23. -and - (1990), "Conjoint Analysis in Marketing: New Developments with Implications for Research and Practice," Journal of Marketing, 54, 3-19.
24. Hart, Anna (1992), "Using Neural Networks for Classification Tasks - Some Experiments on Datasets and Practical Advice," Journal of Operational Research Society, 43, 251-226.
25. Hebb, D.O. (1949), The Organization of Behavior, New York: Wiley.
26. Hornik, K.M. Stinchcombe, and H. White (1990) "Universal Approximation of an Unknown Mapping and Its Derivatives Using Multilayer Feedforward Networks," Neural Networks, 3, 551-560.
27. Johnson, Eric J. and Robert J. Meyer (1984), "Compensatory Choice Models of Noncompensatory Processes: The Effect of Varying Context," Journal of Consumer Research, 11, June, 528-541.
28. -, -, and Sanjoy Ghose (1989), "When Choice Models Fail: Compensatory Models in Negatively Correlated Environments," Journal of Marketing Research, 26, August, 255-270.
29. Keeney, Ralph L. and Howard Raiffa (1976), Decisions with Multiple Objectives: Preferences and Value Trade-Offs, New York: Wiley.
30. Lippmann, R.P. (1987), "An Introduction to Computing with Neural Nets," IEEE ASSP Magazine, 1, April, 4-22.
31. Lynch, John G. (1985), "Uniqueness Issues in the Decompositional Modeling of Multiattribute Overall Evaluations: An Information Integration Perspective," Journal of Marketing Research, 22, 1-19.
32. Malakooti, Behnam and Ying Q. Zhou (1994), "Feedforward Artificial Neural Networks for Solving Discrete Multiple Criteria Decision Making Problems," Management Science, 40, November, 1542-1561.
33. Menon, A., K. Mehrotra, C.K. Mohen, and S. Ranka (1996), "Characterization of a Class of Sigmoid Functions with Applications to Neural Networks," Neural Networks, 9, 5, 819-835.
34. McClelland, James L. (1986) "A Programmable Blackboard Model of Reading," in Parallel Distributed Processing: Explorations in the Microstructures of Cognition, David Rumelhart and James McClelland (Eds.), Cambridge, MA: MIT Press.
35. -and J.L. Elman (1986), "Interactive Processes in Speech Perception: The TRACE Model," in Parallel Distributed Processing: Explorations in the Microstructures of Cognition, David Rumelhart and James McClelland (Eds.), Cambridge, MA: MIT Press.
36. -and David E. Rumelhart (1986), "A Distributed Model of Human Learning and Memory," in Parallel Distributed Processing: Explorations in the Microstructures of Cognition, David Rumelhart and James McClelland (Eds.), Cambridge, MA: MIT Press.
37. Payne, John W., James R. Bettman, and Eric J. Johnson (1993), The Adaptive Decision Maker, New York: Cambridge University Press.
38. Quillian, M.R. (1968), "Semantic Memory," in Semantic Information Processing, M. Minsky (Ed.), Cambridge, MA, MIT Press.
39. Rosenblatt, Frank (1959), "Two Theorems of Statistical Separability in the Perception," Proceedings of a Symposium on the Mechanization of Thought Processes, London: Her Majesty's Stationary Office, 421-456.
40. -(1961), Principles of Neurodynamics: Perceptions and the Theory of Brain Mechanisms, Washington, DC: Spartan Books.
41. Rumelhart, David E., Richard Burbin, Richard Golden, and Yves Chauvin (1996), "Backpropogation: The Basic Theory," in Mathematical Perspectives on Neural Networks, Paul Smolensky, Michael C. Mozer, and David Rumelhart (Eds.), Mahwah, NJ: Elbaum.
42. -, James L. McClelland, and the PDP Research Group (1986), Parallel Distributed Processing, Explorations in the Microstructures of Cognition, Cambridge, MA: MIT Press.
43. Salchenberger, Linda M., E. Mime Cinar, and Nicholas A. Lash (1992), "Neural Network: A New Tool for Predicting Thrift Failures," Decision Sciences, 23, July-August, 899-917.
44. Shastri, Lokendra and Venkat Ajjanagadde (1993), "From Simple Associations to Systematic Reasoning: A Connectionist Representation of Rules, Variables and Dynamic Bindings Using Temporal Synchrony," Behavioral and Brain Sciences, 16, 417-494.
45. Simon, Herbert A. (1996), The Sciences of the Artificial, 3d ed., Cambridge, MA: MIT Press.
46. Smith, Murray (1996), Neural Networks for Statistical Modeling, Boston, MA: International Thomson Computer Press.
47. Surkan, A.J. and J.C. Singleton (1990), "Neural Networks for Bonding Rating Improved by Multiple Hidden Layers," Proceedings IEEE International Conference on Neural Networks, II157-II162.
48. Treigueiros, D. and R. Berry (1991), "The Application of Neural Networks Based Methods to the Extraction of Knowledge from Accounting Reports," Proceedings, 24th Annual Hawaii International Conference on System Sciences IV, 137-146.
49. Tversky, Amos (1972), "Elimination by Aspects: A Theory of Choice," Psychological Review, 79, July, 281-299.
50. Wang, Jun (1994), "A Neural Network Approach to Modeling Fuzzy Preference Relations for Multiple Criteria Decision Making," Computer Operations Research, 21, September, 991-1000.
51. -and Behnam Malakooti (1992), "A Feedforward Neural Network for Multiple Criteria Decision Making," Computers Operations Research, 19, February, 151-167.
52. White, Halbert (1989), "Some Asymptotic Results for Learning in Single Hidden-Layer Feedforward Network Models," Journal of the American Statistical Association, 84, 1003-1013.
53. Wilkie, William L. and Edgar A. Pessimier (1973), "Issues In Marketing's Use of Multi-Attribute Attitude Models," Journal of Marketing Research, 10, 428-441.
54. Yoon, Youngohc, George Swales, and Thomas Margavio (1993), "A Comparison of Discriminant Analysis Versus Artificial Neural Networks," Journal of Operational Research Society, 44, 51-60.
55. Zimmer, Mary R. and Linda L. Golden (1988), "Impressions of Retail Stores: A Content Analysis of Consumer Images," Journal of Retailing, 64, 3, 235-293.