Schroeder, Nadine and Hruschka, Harald (2016) Investigating the effects of mailing variables and endogeneity on mailing decisions. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, 250 (2). pp. 579-589. ISSN 0377-2217, 1872-6860
Full text not available from this repository. (Request a copy)Abstract
Determining the optimal amount of mailings being sent to customers is crucial. However, this decision depends on various aspects. First, it is important to specify relevant mailing variables. By distinguishing different types of mailings and considering their sizes, we set our study apart from the majority of existing studies. To deal with unobserved heterogeneity we estimate a Mixture of Dirichlet Processes (MDP) whose components are Tobit-2 models. A policy function approach is used to take endogeneity into account. We investigate whether and how consideration of endogeneity leads to different managerial implications. To this end, we determine mailings by dynamic optimization for three individual customers which are prototypical for the segments discovered by the MDP model. We find out that mailings should be avoided altogether more frequently for all three customer types according to the model which takes endogeneity into account. (C) 2015 Elsevier B.V. and Association of European Operational Research Societies (EURO) within the International Federation of Operational Research Societies (IFORS). All rights reserved.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | POSTERIOR DISTRIBUTIONS; BRAND CHOICE; PROBIT MODEL; CUSTOMER; ALLOCATION; SELECTION; CATALOGS; (D) OR in marketing; Specification of mailings; Mixture of Dirichlet Processes; Endogeneity; Dynamic optimization |
| Subjects: | 600 Technology > 650 Management & auxiliary services |
| Divisions: | Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Marketing (Prof. Dr. Harald Hruschka) |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 05 Apr 2019 07:14 |
| Last Modified: | 05 Apr 2019 07:14 |
| URI: | https://pred.uni-regensburg.de/id/eprint/3070 |
Actions (login required)
 |
View Item |
