The document presents the results of an estimation using MCMC Bayesian inference to analyze whether consumers are forward-looking in their purchasing behavior. It finds that brand loyalty decreases with price, as shown by the ordering of the alpha parameters from most to least loyal brands. The beta parameter is negative, indicating consumers are less likely to buy higher priced mineral water. The delta parameter is positive at 55.3% and statistically significant, demonstrating that consumers take future prices into account and are forward-looking in their decisions.