EconPapers    
Economics at your fingertips  
 

A Belief-Preference Model of Choice for Experience and Credence Goods

Marco Costanigro () and Yuko Onozaka

No 276053, Working Papers from Colorado State University, Department of Agricultural and Resource Economics

Abstract: We develop a methodology addressing the issue of confounded beliefs and preferences in models of discrete choice. First, we formalize the theoretical framework and logical underpinnings of a belief-preference model of choice for experience and credence goods, where subjective beliefs relate to uncertain product quality. Then, we present the experimental procedure within the context of an online choice experiment studying consumer food preferences. The empirical strategy leverages information from a quality sorting task to identify and estimate beliefs, while choice data are used to recover preferences. By conditioning product choices on predicted quality perceptions, the issue of endogenous beliefs is resolved.

Keywords: Institutional; and; Behavioral; Economics (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm and nep-upt
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://ageconsearch.umn.edu/record/276053/files/Be ... 0Working%20Paper.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:csdawp:276053

DOI: 10.22004/ag.econ.276053

Access Statistics for this paper

More papers in Working Papers from Colorado State University, Department of Agricultural and Resource Economics Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().

 
Page updated 2019-10-12
Handle: RePEc:ags:csdawp:276053