July 21, 2010

Research by Allenby receives "Long-Term Impact Award"

A paper co-authored by Greg Allenby, the Helen C. Kurtz Chair in Marketing, was the recipient of the “2010 ISMS Long-Term Impact Award” by the INFORMS' Society for Marketing Science.

The award is given annually to a research paper published within the last five to 10 years that has been judged to have had the greatest impact in the field.  "Bayesian Statistics and Marketing," which Allenby co-authored with Peter Rossi of the University of California at Los Angeles, was published in 2003 in the journal Marketing Science.

 "Bayesian Statistics and Marketing was a review paper that summarized Bayesian research in the field of marketing during the previous 15 years, and is a summary of much of the research Peter and I have done in our careers,” Allenby said.  “The paper is highly cited and the field of marketing has experience a large development of Bayesian methods to address specific issues in the field ranging from market segmentation, the analysis of customer satisfaction data, understanding consumer choice, price optimization and advertising effects.”