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Combination of revealed and stated preferences data

Author

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  • Ozhegova, Alina

    (National Research University Higher School of Economics, Perm, Russian Federation)

Abstract

Many of business tasks require revealing of consumer preferences. There are two main sources of preferences: actual sales data and consumer survey data. Both of these sources have substantial drawbacks. That is the reason why they are often combined into one dataset. In this paper we propose a methodology to estimate heterogeneous preferences on a dataset combined from transactional sales database and result of discrete choice experiment. We show that collection of experimental data allows increasing an efficiency of preferences estimates and improving a model quality in terms of actual choice prediction.

Suggested Citation

  • Ozhegova, Alina, 2018. "Combination of revealed and stated preferences data," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 52, pages 110-131.
  • Handle: RePEc:ris:apltrx:0358
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    References listed on IDEAS

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    1. Ferrini, Silvia & Scarpa, Riccardo, 2007. "Designs with a priori information for nonmarket valuation with choice experiments: A Monte Carlo study," Journal of Environmental Economics and Management, Elsevier, vol. 53(3), pages 342-363, May.
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    More about this item

    Keywords

    demand; preferences; heterogeneity; discrete choice models;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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