Determining of consumer choice models and discount factor
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    Abstract:

    Based on the analysis of the characteristics of dealing between the firm and consumers as well as consumers' behaviors, a dynamic consumer choice model has been presented. Through the comparing of two methods determining discount factor in the models which take it as a constant or a parameter methods, the method of taking the discount factor as the function of consumers' heterogeneity is also presented. Results show that the functional method is better than the other two methods in applicability about the m...

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