Abstract
| Original language | English |
|---|---|
| Place of Publication | Tilburg |
| Publisher | Econometrics |
| Number of pages | 44 |
| Volume | 2000-119 |
| Publication status | Published - 2000 |
Publication series
| Name | CentER Discussion Paper |
|---|---|
| Volume | 2000-119 |
Fingerprint
Keywords
- econometric models
- preferences
- consumer choice
- maximum likelihood
- JEL classifications
- C35
- M31
Cite this
}
Combining and Comparing Consumers' Stated Preference Ratings and Choice Responses. / Conlon, B.J.; Dellaert, B.G.C.; van Soest, A.H.O.
Tilburg : Econometrics, 2000. (CentER Discussion Paper; Vol. 2000-119).Research output: Working paper › Discussion paper › Other research output
TY - UNPB
T1 - Combining and Comparing Consumers' Stated Preference Ratings and Choice Responses
AU - Conlon, B.J.
AU - Dellaert, B.G.C.
AU - van Soest, A.H.O.
N1 - Pagination: 44
PY - 2000
Y1 - 2000
N2 - In this study we develop and test an econometric model for combining choice and preference ratings data collected from the same set of individuals.Choice data are modeled using a multinomial logit framework, while preference data are modeled using an ordered response equation.Individual heterogeneity is allowed for via random coefficients providing a link between the choice and ratings data.Parameters are estimated by Simulated Maximum Likelihood.An application of the model to consumer yoghurt choice in The Netherlands found that ratings based preference estimates differ significantly from choice based estimates, but the correlation between random coefficients driving the two is very strong.
AB - In this study we develop and test an econometric model for combining choice and preference ratings data collected from the same set of individuals.Choice data are modeled using a multinomial logit framework, while preference data are modeled using an ordered response equation.Individual heterogeneity is allowed for via random coefficients providing a link between the choice and ratings data.Parameters are estimated by Simulated Maximum Likelihood.An application of the model to consumer yoghurt choice in The Netherlands found that ratings based preference estimates differ significantly from choice based estimates, but the correlation between random coefficients driving the two is very strong.
KW - econometric models
KW - preferences
KW - consumer choice
KW - maximum likelihood
KW - JEL classifications
KW - C35
KW - M31
M3 - Discussion paper
VL - 2000-119
T3 - CentER Discussion Paper
BT - Combining and Comparing Consumers' Stated Preference Ratings and Choice Responses
PB - Econometrics
CY - Tilburg
ER -