Traditionally, discriminant functions have been used to classify individuals according to a linear function of the individuals’ measured characteristics. This article develops a Bayesian classification procedure which explicitly takes into account the costs of misclassification and attribute measurement. The article presents the results of a computer program designed to determine the optimal number of characteristics to measure and discusses the results’ implications for consumer research.
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References
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See AndersonT. W., Introduction to Multivariate Statistical Analysis, New York: John Wiley & Sons, Inc., 1958, 96.
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BanksSeymour, “Why People Buy Particular Brands,” in FerberRobert, and WalesH. G. (eds.), Motivation and Market Behavior, Homewood, Ill.: Richard D. Irwin, Inc., 1958, 277–293.
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