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The taste for variety: A hedonic analysis

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  • Drescher, Larissa
  • Thiele, Silke
  • Weiss, Christoph R.
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    Abstract

    This paper derives a hedonic price function for a household's consumption bundle. In a panel-data analysis for households' expenditures on 182 different soft drinks we find that consumers have a preference for variety in food consumption, ceteris paribus.

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    File URL: http://www.sciencedirect.com/science/article/B6V84-4S85DBM-5/2/f4a19fd0727dadebb8d2c635ab9b47ba
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    Bibliographic Info

    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 101 (2008)
    Issue (Month): 1 (October)
    Pages: 66-68

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    Handle: RePEc:eee:ecolet:v:101:y:2008:i:1:p:66-68

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    Web page: http://www.elsevier.com/locate/ecolet

    Related research

    Keywords: Taste for variety Hedonic analysis Consumption;

    References

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    1. Benassy, Jean-Pascal, 1996. "Taste for variety and optimum production patterns in monopolistic competition," Economics Letters, Elsevier, vol. 52(1), pages 41-47, July.
    2. Kelvin Lancaster, 1990. "The Economics of Product Variety: A Survey," Marketing Science, INFORMS, vol. 9(3), pages 189-206.
    3. Jackson, Laurence Fraser, 1984. "Hierarchic Demand and the Engel Curve for Variety," The Review of Economics and Statistics, MIT Press, vol. 66(1), pages 8-15, February.
    4. Jevons, William Stanley, 1871. "The Theory of Political Economy," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number jevons1871.
    5. Sherwin Rosen, 2002. "Markets and Diversity," American Economic Review, American Economic Association, vol. 92(1), pages 1-15, March.
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    Cited by:
    1. ├ůstebro, Thomas & Thompson, Peter, 2011. "Entrepreneurs, Jacks of all trades or Hobos?," Research Policy, Elsevier, vol. 40(5), pages 637-649, June.
    2. Pavlov, Oscar & Weder, Mark, 2012. "Variety matters," Journal of Economic Dynamics and Control, Elsevier, vol. 36(4), pages 629-641.
    3. Liu, Jing & Shively, Gerald & Binkley, James, 2013. "Dietary Diversity in Urban and Rural China: An Endogenous Variety Approach," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149624, Agricultural and Applied Economics Association.

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