A Mixture Model of Consumers' Intended Purchase Decisions for Genetically Modified Foods
Robert Berrens and
Ron Mittelhammer ()
Economics Bulletin, 2006, vol. 3, issue 23, 1-11
A finite probability mixture model is used to analyze the existence of multiple market segments for a pre-market good. The approach has at least two principal benefits. First, the model is capable of identifying likely market segments and their differentiating characteristics. Second, the model can be used to estimate the discount different consumer groups require to purchase the good. The model is illustrated using stated preference survey data collected on consumer responses to the potential introduction in Norway of bread made with genetically modified wheat.
JEL-codes: C5 D1 (search for similar items in EconPapers)
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