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Combination of revealed and stated preferences data

Author

Listed:
  • 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, Publishing House "SINERGIA PRESS", vol. 52, pages 110-131.
  • Handle: RePEc:ris:apltrx:0358
    as

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    File URL: http://pe.cemi.rssi.ru/pe_2018_52_110-131.pdf
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    References listed on IDEAS

    as
    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.
    2. Rose, John M. & Bliemer, Michiel C.J. & Hensher, David A. & Collins, Andrew T., 2008. "Designing efficient stated choice experiments in the presence of reference alternatives," Transportation Research Part B: Methodological, Elsevier, vol. 42(4), pages 395-406, May.
    3. Caussade, Sebastián & Ortúzar, Juan de Dios & Rizzi, Luis I. & Hensher, David A., 2005. "Assessing the influence of design dimensions on stated choice experiment estimates," Transportation Research Part B: Methodological, Elsevier, vol. 39(7), pages 621-640, August.
    4. Zsolt Sándor & Michel Wedel, 2002. "Profile Construction in Experimental Choice Designs for Mixed Logit Models," Marketing Science, INFORMS, vol. 21(4), pages 455-475, February.
    5. McFadden, Daniel, 1974. "The measurement of urban travel demand," Journal of Public Economics, Elsevier, vol. 3(4), pages 303-328, November.
    6. Seaman, Bruce A, 2006. "Empirical Studies of Demand for the Performing Arts," Handbook of the Economics of Art and Culture, Elsevier.
    7. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132-132.
    8. repec:spr:orspec:v:39:y:2017:i:4:d:10.1007_s00291-017-0483-1 is not listed on IDEAS
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    More about this item

    Keywords

    demand; preferences; heterogeneity; discrete choice models;

    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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