Choice Models and Subjective Utility

Choice Models and Subjective Utility

Speaker: Nathaniel Forde

We will cover how discrete choice models are used to estimate consumer utility and predict market demand. We’ll see how to iteratively build and estimate these interesting and varied models in PyMC.

Touching briefly how interventions on pricing can alter the market conditions and attendant conditional probabilities, we’ll see how the discrete choice models are a nice lens on the data generating process of market demand.

This should be of interest to economists,marketers and data scientists everywhere