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Combination of revealed and stated preferences data

Alina Ozhegova ()
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Alina Ozhegova: National Research University Higher School of Economics, Perm, Russian Federation

Applied Econometrics, 2018, vol. 52, 110-131

Abstract: Many of business tasks require revealing of consumer preferences. There are two main sources of preferences: actual sales data and consumer survey data. Both of these sources have substantial drawbacks. That is the reason why they are often combined into one dataset. In this paper we propose a methodology to estimate heterogeneous preferences on a dataset combined from transactional sales database and result of discrete choice experiment. We show that collection of experimental data allows increasing an efficiency of preferences estimates and improving a model quality in terms of actual choice prediction.

Keywords: demand; preferences; heterogeneity; discrete choice models (search for similar items in EconPapers)
JEL-codes: C25 C81 D12 Z11 (search for similar items in EconPapers)
Date: 2018
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