I am having a problem deciding between seemingly unrelated regression (sureg) and multivariate regression (mv). And I’m unsure what method to use for my research problem.
I am using Stata 15 for Windows.
My goal is to analyze factors that drive consumers’ choice for different products. In order to do so, I conducted an experiment that presents respondents several product alternatives and I asked them to evaluate the products based on purchase likelihood values (ranging from 0 to 100).
I assume that factors such as price consciousness, brand, socio-demographics etc. influence customers likelihood to buy a certain product.
As result, I will have 6 equations, i.e. a demand system for food items. That is, the existence of one product should influence the evaluation of the others.
In order to analyze such data, SUR estimation (sureg) but also multivariate regression (mvreg) seem to be applicable from my perspective. But I do not know which method I should use.
I hope that you can help making the decision for one of the methods?
Kind regards
Michael
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