Journal of Social Sciences

Consumer Choice Prediction: Artificial Neural Networks versus Logistic Models

Christopher Gan, Visit Limsombunchai, Mike Clemes and Amy Weng

DOI : 10.3844/jssp.2005.211.219

Journal of Social Sciences

Volume 1, Issue 4

Pages 211-219

Abstract

Conventional econometric models, such as discriminant analysis and logistic regression have been used to predict consumer choice. However, in recent years, there has been a growing interest in applying artificial neural networks (ANN) to analyse consumer behaviour and to model the consumer decision-making process. The purpose of this paper is to empirically compare the predictive power of the probability neural network (PNN), a special class of neural networks and a MLFN with a logistic model on consumers

Copyright

© 2005 Christopher Gan, Visit Limsombunchai, Mike Clemes and Amy Weng. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.