Taste and Quality Perception of Attributes in Product Differentiation: An Econometric Model with Latent Variables

Sandrine Costa (), Serge Garcia and Lisette Ibanez
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Sandrine Costa: Laboratoire d'Economie Forestière, INRA - AgroParisTech

No 2006-01, Working Papers - Cahiers du LEF from Laboratoire d'Economie Forestiere, AgroParisTech-INRA

Abstract: We study the consumers' preferences for the various attributes of a product. We consider that the consumers'choices are not guided by observed characteristics of a product, but by the quality perception consumers have on these attributes. Our model integrates this issue by means of latent variables, and is interested in the influence of the information received by the consumer on this perception. It also includes consumers' attitudes by supposing that the weight consumers put on attributes describes their tastes. An econometric application on material choices (wood vs. PVC) in the French window market valid these assumptions.

Keywords: quality perception; information; taste; latent variable model; wood (search for similar items in EconPapers)
JEL-codes: C25 D12 L15 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2007-05
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