Chapter 12 Estimating the Demand for Quality with Discrete Choice Models

Daniel J. Phaneuf and Roger von Haefen

A chapter in Quantifying Consumer Preferences, 2009, pp 317-347 from Emerald Group Publishing Limited

Abstract: In this chapter, we describe how random utility maximization (RUM) discrete choice models are used to estimate the demand for commodity attributes in quality-differentiated goods. After presenting a conceptual overview, we focus specifically on the conditional logit model. We examine technical issues related to specification, interpretation, estimation, and policy use. We also discuss identification strategies for estimating the role of price and non-price attributes in preferences when product attributes are incompletely observed. We illustrate these concepts via a stylized application to new car purchases, in which our objective is to measure preferences for fuel economy.

Keywords: discrete; choice (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ceazzz:s0573-8555(2009)0000288015

DOI: 10.1108/S0573-8555(2009)0000288015

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