Statistical Properties of Consideration Sets
AbstractConsideration sets have become a central concept in the study of consumer behavior. Frequently, consumers are asked to split choice alternatives into those that that they would consider and those that they would not. Information on alternatives not in the consideration set is then typically not used in subsequent analysis. This practice is shown to lead to biased estimates of preference parameters. The reason for this is shown to be a form of sample selection bias.
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Bibliographic InfoPaper provided by Department of Economics, UC San Diego in its series University of California at San Diego, Economics Working Paper Series with number qt9qt9g4p4.
Date of creation: 01 Jul 2006
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choice models; random utility; sample selection bias;
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.:
- Richard Carson & Theodore Groves, 2007.
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Environmental & Resource Economics,
European Association of Environmental and Resource Economists, vol. 37(1), pages 181-210, May.
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The Review of Economics and Statistics,
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- Trudy Ann Cameron & Michelle D. James, 1986. "Efficient Estimation Methods for "Closed-Ended" Contingent Valuation Surveys," UCLA Economics Working Papers 404, UCLA Department of Economics.
- Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, Fall.
- Heckman, James J, 1990. "Varieties of Selection Bias," American Economic Review, American Economic Association, vol. 80(2), pages 313-18, May.
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