Respondents' ignoring of attribute information in a choice modelling survey
One debate in economics centres on consumers' decision-making strategies and whether they should be explicitly considered. The default assumption for choice modelling has been that all the attributes presented to respondents somehow influence their choices. More recently, choice modelling research has begun examining how respondents use information. This article presents research that focused on which pieces of information respondents used in responding to a choice modelling survey. The use of information by respondents was captured in the course of the administration of a computer-aided survey, so the research did not rely on posterior self-reporting. Access to the information was captured for each attribute of every alternative, which allowed flexibility in assessing use of information. Three mixed logit models are presented, based on three different assumptions about information use. The results suggest that accounting for respondents' information use affects modelling results, but the impact on estimates of willingness to pay may be relatively small. Copyright 2009 The Authors. Journal compilation 2009 Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishing Asia Pty Ltd.
If 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.
Volume (Year): 53 (2009)
Issue (Month): 4 (October)
|Contact details of provider:|| Postal: |
Phone: 0409 032 338
Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-8489Email:
More information through EDIRC
|Order Information:||Web: http://ordering.onlinelibrary.wiley.com/subs.asp?ref=1467-8489&doi=10.1111/(ISSN)1467-8489|
References listed on IDEAS
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.:
- Matthew Rabin, 2003.
"A Perspective on Psychology and Economics,"
General Economics and Teaching
- Rabin, Matthew, 2002. "A Perspective on Psychology and Economics," Department of Economics, Working Paper Series qt2wr3z049, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Rabin, Mathew, 2002. "A Perspective on Psychology and Economics," Department of Economics, Working Paper Series qt4z78n1r9, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Jordan Louviere & Kenneth Train & Moshe Ben-Akiva & Chandra Bhat & David Brownstone & Trudy Cameron & Richard Carson & J. Deshazo & Denzil Fiebig & William Greene & David Hensher & Donald Waldman, 2005. "Recent Progress on Endogeneity in Choice Modeling," Marketing Letters, Springer, vol. 16(3), pages 255-265, December.
- David Hensher & William Greene, 2003. "The Mixed Logit model: The state of practice," Transportation, Springer, vol. 30(2), pages 133-176, May.
- Cantillo, Víctor & Heydecker, Benjamin & de Dios Ortúzar, Juan, 2006. "A discrete choice model incorporating thresholds for perception in attribute values," Transportation Research Part B: Methodological, Elsevier, vol. 40(9), pages 807-825, November.
- Jacoby, Jacob & Szybillo, Geroge J & Busato-Schach, Jacqueline, 1977. " Information Acquisition Behavior in Brand Choice Situations," Journal of Consumer Research, University of Chicago Press, vol. 3(4), pages 209-16, March.
- David A. Hensher, 2006. "How do respondents process stated choice experiments? Attribute consideration under varying information load," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(6), pages 861-878.
- Jayson L. Lusk, 2003.
"Effects of Cheap Talk on Consumer Willingness-to-Pay for Golden Rice,"
American Journal of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 85(4), pages 840-856.
- Lusk, Jayson L., 2002. "Effects Of Cheap Talk On Consumer Willingness-To-Pay For Golden Rice," 2002 Annual meeting, July 28-31, Long Beach, CA 19597, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- McFadden, Daniel L., 2000.
Nobel Prize in Economics documents
2000-6, Nobel Prize Committee.
- repec:cup:cbooks:9780521747387 is not listed on IDEAS
- Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, August.
- Van Ittersum, Koert & Pennings, Joost M.E. & Wansink, Brian & van Trijp, Hans C.M., 2007. "The validity of attribute-importance measurement: A review," Journal of Business Research, Elsevier, vol. 60(11), pages 1177-1190, November.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
- Hensher, David A. & Rose, John & Bertoia, Tony, 2007. "The implications on willingness to pay of a stochastic treatment of attribute processing in stated choice studies," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 43(2), pages 73-89, March.
- Timothy J. Gilbride & Greg M. Allenby, 2004. "A Choice Model with Conjunctive, Disjunctive, and Compensatory Screening Rules," Marketing Science, INFORMS, vol. 23(3), pages 391-406, October.
- Nick Hanley & Robert Wright & Gary Koop, 2002. "Modelling Recreation Demand Using Choice Experiments: Climbing in Scotland," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(3), pages 449-466, July.
- Kenneth Train, 2003.
"Discrete Choice Methods with Simulation,"
Online economics textbooks,
SUNY-Oswego, Department of Economics, number emetr2, September.
- David I. Laibson & Xavier Gabaix, 2000. "A Boundedly Rational Decision Algorithm," American Economic Review, American Economic Association, vol. 90(2), pages 433-438, May.
- Bettman, James R & Luce, Mary Frances & Payne, John W, 1998. " Constructive Consumer Choice Processes," Journal of Consumer Research, University of Chicago Press, vol. 25(3), pages 187-217, December.
When requesting a correction, please mention this item's handle: RePEc:bla:ajarec:v:53:y:2009:i:4:p:547-564. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
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.