Choices of wine consumption

Véronique Meuriot and Magali Aubert ()
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Véronique Meuriot: UMR ART-Dev - Acteurs, Ressources et Territoires dans le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique

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Abstract: Interpreting interaction terms in econometric modelling is fussy. Even if logit or probit models are the most used modelling consumers' choice, they omit interaction effects among explanatory variables in the choice process. These blended effects are however declared in the modifications of consumption decision. The difficulty is to interpret coefficients associated to these effects (interaction variables). To solve this problem, we propose a decision rule enforceable whatever the nature of the estimators. We build a convenient decision rule. We carry out an application of this decision rule to the choices of the wine consumers confronted with increasingly sophisticated products.

Date: 2009
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Published in Enometrica, 2009, vol. 2 (n°2), pp.51-60

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03061979

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