Matching reality: A basket and expenditure based choice experiment with sensory preferences

Clinton L. Neill and Jacob Lahne

Journal of choice modelling, 2022, vol. 44, issue C

Abstract: This article introduces a basket and expenditure based choice experiment design to elicit consumer preferences for multiple products. This design is utilized to imitate a more realistic shopping scenario for consumers when choosing among many different products simultaneously. This approach allows participants to choose both multiple items, in this case vegetables, and related quantities/expenditures to place in a basket of goods. We provide an application of the experimental design to a vegetable choice experiment. This is done in conjunction with a sensory experiment to provide a contextual component to the experiment and econometric model. This type of experiment lends itself to the use of the Multiple Discrete-Continuous Extreme Value (MDCEV) class of models. More specifically, we use the extended version of the MDCEV model proposed by Palma and Hess (2020) that relaxes the need for a budget while also accounting for substitution and complementarity among products. We find that the proposed design and class of econometric methods present a flexible way to analyze consumer choice when the desire is to elicit preferences for a basket of goods rather than simple discrete alternatives or attributes.

Keywords: Consumer choice; Sensory; Basket and expenditure based choice experiment; Vegetables (search for similar items in EconPapers)
JEL-codes: C90 D12 Q13 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eejocm:v:44:y:2022:i:c:s1755534522000264

DOI: 10.1016/j.jocm.2022.100369

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