Analyzing consumers heterogeneity and self-reported tastes: An approach consistent with the consumer's decision making process
AbstractThis paper analyses whether self-reported valuation of goods is an adequate proxy for underlying tastes. In this case, different self-reported appraisals, which we can associate with different utility functions, would imply different demand curves. To estimate these kinds of relationships we have used data on reported tastes on new film releases and cinema attendance. We have used a latent class approach in order to imitate the data generating process underlying the demand functions, where consumer's preferences are determined before consumers purchase. With this procedure we can reject the hypothesis of a unique demand function for all consumers. As expected, moreover, prices have a different influence depending on individuals' self-reported tastes and specific market policies for each consumer group could therefore be designed.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Psychology.
Volume (Year): 30 (2009)
Issue (Month): 4 (August)
Contact details of provider:
Web page: http://www.elsevier.com/locate/joep
Preferences Consumer behaviour Latent class models Movie demand;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Greene, William, 2005. "Reconsidering heterogeneity in panel data estimators of the stochastic frontier model," Journal of Econometrics, Elsevier, vol. 126(2), pages 269-303, June.
- Friedrich Leisch, . "FlexMix: A General Framework for Finite Mixture Models and Latent Class Regression in R," Journal of Statistical Software, American Statistical Association, vol. 11(i08).
- Kenneth S. Corts, 2001. "The Strategic Effects of Vertical Market Structure: Common Agency and Divisionalization in the US Motion Picture Industry," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 10(4), pages 509-528, December.
- Dewenter, Ralf & Westermann, Michael, 2003.
"Cinema demand in Germany,"
125, University of Duisburg-Essen, Faculty for Economics and Business Administration.
- VÍctor Blanco & JosÉ BaÑos Pino, 1997. "Cinema Demand in Spain: A Cointegration Analysis," Journal of Cultural Economics, Springer, vol. 21(1), pages 57-75, March.
- De Vany, Arthur S & Walls, W David, 1997. "The Market for Motion Pictures: Rank, Revenue, and Survival," Economic Inquiry, Western Economic Association International, vol. 35(4), pages 783-97, October.
- Víctor Fernández Blanco & Juan Prieto Rodríguez, . "Building Stronger National Movie Industries: The Case Of Spain," Working Papers 29-02, Instituto de Estudios Fiscales.
- Akbar Marvasti & E. Ray Canterbery, 2005. "Cultural and Other Barriers to Motion Pictures Trade," Economic Inquiry, Western Economic Association International, vol. 43(1), pages 39-54, January.
- E. Canterbery & A. Marvasti, 2001. "The U.S. Motion Pictures Industry: An Empirical Approach," Review of Industrial Organization, Springer, vol. 19(1), pages 81-98, August.
- Samuel Cameron, 1999. "Rational addiction and the demand for cinema," Applied Economics Letters, Taylor & Francis Journals, vol. 6(9), pages 617-620.
- Orbach, Barak Y. & Einav, Liran, 2007. "Uniform prices for differentiated goods: The case of the movie-theater industry," International Review of Law and Economics, Elsevier, vol. 27(2), pages 129-153.
- Ravid, S Abraham, 1999. "Information, Blockbusters, and Stars: A Study of the Film Industry," The Journal of Business, University of Chicago Press, vol. 72(4), pages 463-92, October.
- Arthur De Vany & W. Walls, 1999. "Uncertainty in the Movie Industry: Does Star Power Reduce the Terror of the Box Office?," Journal of Cultural Economics, Springer, vol. 23(4), pages 285-318, November.
- Peter Davis, 2006. "Spatial competition in retail markets: movie theaters," RAND Journal of Economics, RAND Corporation, vol. 37(4), pages 964-982, December.
- Victoria M. Ateca-Amestoy & Juan Prieto-Rodriguez, 2012.
"Forecasting accuracy of behavioural models for participation in the arts,"
ACEI Working Paper Series
AWP-01-2012, the Association for Cultural Economics International, revised Feb 2012.
- Ateca-Amestoy, Victoria & Prieto-Rodriguez, Juan, 2013. "Forecasting accuracy of behavioural models for participation in the arts," European Journal of Operational Research, Elsevier, vol. 229(1), pages 124-131.
- Prieto Rodríguez, Juan & Ateca Amestoy, Victoria María, 2012. "Forecasting accuracy of behavioural models for participation in the arts," DFAEII Working Papers 2012-01, University of the Basque Country - Department of Foundations of Economic Analysis II.
- José Grisolía & Kenneth Willis, 2012. "A latent class model of theatre demand," Journal of Cultural Economics, Springer, vol. 36(2), pages 113-139, May.
- Oppewal, Harmen & Paas, Leonard J. & Crouch, Geoffrey I. & Huybers, Twan, 2010. "Segmenting consumers based on how they spend a tax rebate: An analysis of the Australian stimulus payment," Journal of Economic Psychology, Elsevier, vol. 31(4), pages 510-519, August.
- Karol J. Borowiecki & Juan Prieto-Rodriguez, 2013.
"Video Games Playing: A substitute for cultural consumptions?,"
ACEI Working Paper Series
AWP-07-2013, the Association for Cultural Economics International, revised Nov 2013.
- Karol Jan BOROWIECKI & Juan PRIETO-RODRIGUEZ, 2013. "Video Games Playing: A substitute for cultural consumptions?," Trinity Economics Papers tep0413, Trinity College Dublin, Department of Economics.
- Ngwenya, Mthunzi A. & Paas, Leonard J., 2012. "Lifecycle effects on consumer financial product portfolios in South Africa: An exploratory analysis of four ethnic groups," Journal of Economic Psychology, Elsevier, vol. 33(1), pages 8-18.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.