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Choices of wine consumption: measure of interaction terms and attributes

Author

Listed:
  • Magali Aubert

    (INRA and CIRAD, Montpellier, France)

  • Véronique Meuriot

    (INRA and CIRAD, Montpellier, France)

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 cofficients 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.

Suggested Citation

  • Magali Aubert & Véronique Meuriot, . "Choices of wine consumption: measure of interaction terms and attributes," Enometrica, Enometrica - Review of the Vineyard Data Quantification Society (VDQS) and the European Association of Wine Economists (EuAWE) - Macerata University, Faculty of Communications.
    • Handle: RePEc:mcr:jenome:wpaper00015
    as

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    More about this item

    Keywords

    consumer preferences; Interaction terms; modelling; rule decision; wine market; econometric;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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