Donald E. Sexton is the Professor of Marketing and of Decisions, Risk, and Operations at Columbia University. He is also the Faculty Director for the Center for International Business Education and Research at Columbia Business School in New York.
Chapter 5: Microsimulating Consumer Behavior
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Chapter 5 of Models of Buyer Behavior
Microsimulating Consumer Behavior uses an example of a stochastic consumer microsimulation to show the type of structure that may be imposed on the modeling of consumer behavior by digital simulation. The chapter breaks down the concept of simulation, including data input, sequence of events and cost. The benefits of simulation are made evident for further research of consumer behavior and to students and faculty of marketing studies.