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A Belief‐Preference Model of Choice for Experience and Credence Goods

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  • Marco Costanigro
  • Yuko Onozaka

Abstract

We develop a methodology addressing the issue of confounded beliefs and preferences in models of discrete choice. First, we formalise the theoretical framework and logical underpinnings of a belief‐preference model of choice for experience and credence goods, where subjective beliefs relate to uncertain product quality. We then present the experimental procedure within the context of an online choice experiment studying consumer food preferences. The empirical strategy leverages information from a quality sorting task to identify and estimate beliefs, while choice data are used to recover preferences. By conditioning product choices on predicted quality perceptions, the issue of endogenous beliefs is resolved.

Suggested Citation

  • Marco Costanigro & Yuko Onozaka, 2020. "A Belief‐Preference Model of Choice for Experience and Credence Goods," Journal of Agricultural Economics, Wiley Blackwell, vol. 71(1), pages 70-95, February.
    • Handle: RePEc:bla:jageco:v:71:y:2020:i:1:p:70-95
    DOI: 10.1111/1477-9552.12334
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    Cited by:

    1. Samper, Bailey A. & Crocker, Andrew & Williams, Ryan Blake, 2023. "The Influence of Information on Consumer Beliefs and Preferences for Ground Beef," 2023 Annual Meeting, July 23-25, Washington D.C. 335645, Agricultural and Applied Economics Association.
    2. Wossen, Tesfamicheal & Spielman, David J. & Alene, Arega D. & Abdoulaye, Tahirou, 2024. "Estimating seed demand in the presence of market frictions: Evidence from an auction experiment in Nigeria," Journal of Development Economics, Elsevier, vol. 167(C).
    3. Onozaka, Yuko & Saue, Vegar Veseth & Costanigro, Marco, "undated". "The Moderating Effect of Heterogeneous Beliefs on Consumer Preferences for a New Food Technology: The Case of Modified Atmospheric Packaging," 2018 Annual Meeting, August 5-7, Washington, D.C. 274068, Agricultural and Applied Economics Association.
    4. Onozaka, Yuko & Honkanen, Pirjo & Altintzoglou, Themistoklis, 2023. "Sustainability, perceived quality and country of origin of farmed salmon: Impact on consumer choices in the USA, France and Japan," Food Policy, Elsevier, vol. 117(C).

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