Consumer Choice Modeling in Product Line Pricing: Reservation Prices and Discrete Choice Theory

2012 ◽  
Author(s):  
Stefan Mayer ◽  
Jochen Goensch
Keyword(s):  
Discrete Choice ◽  
Consumer Choice ◽  
Choice Theory ◽  
Product Line ◽  
Choice Modeling ◽  
Reservation Prices

Design and Analysis of Simulated Consumer Choice or Allocation Experiments: An Approach Based on Aggregate Data

1983 ◽  
Vol 20 (4) ◽  
pp. 350-367 ◽  
Author(s):  
Jordan J. Louviere ◽  
George Woodworth
Keyword(s):  
Resource Allocation ◽  
Conjoint Analysis ◽  
Discrete Choice ◽  
Consumer Choice ◽  
External Validity ◽  
Logit Model ◽  
Choice Theory ◽  
Multinomial Logit Model ◽  
Validity Evidence ◽  
New Approach

The authors integrate concepts in conjoint analysis and discrete choice theory in econometrics to develop a new approach to the design and analysis of controlled consumer choice or resource allocation experiments. The article is concerned with estimating the parameters of conjoint-type functions from discrete choice or allocation data. Emphasis is placed on the multinomial logit model and aggregate choice or allocation data to illustrate the concepts in a series of empirical examples ranging from simple to complex. The authors present limited external validity evidence to support the approach and make comparisons with traditional conjoint approaches.

Consumer Choice Modeling via TOPSIS

2009 ◽  
Author(s):  
Suresh K. Bhatt ◽  
Namita Bhatnagar ◽  
S. S. Appadoo
Keyword(s):  
Consumer Choice ◽  
Choice Modeling

Air Passengers’ Preferences for Aviation Voluntary Carbon Offsetting: A Co-benefits Perspective

2021 ◽  
pp. 004728752110303
Author(s):  
Beile Zhang ◽  
Brent W. Ritchie ◽  
Judith Mair ◽  
Sally Driml
Keyword(s):  
Discrete Choice ◽  
Latent Class ◽  
Choice Model ◽  
Choice Modeling ◽  
Positive Outcomes ◽  
Market Segments ◽  
Discrete Choice Modeling ◽  
Educational Benefits ◽  
Carbon Offsetting ◽  
Simple Reduction

Co-benefits are positive outcomes from voluntary carbon offsetting (VCO) programs beyond simple reduction in carbon emissions, which include biodiversity, air quality, economic, health, and educational benefits. Given the rates of aviation VCOs remain at less than 10%, this study investigated air passengers’ preferences for co-benefits as well as certification, location, and cost of VCO programs. Using discrete choice modeling, this study shows that aviation VCO programs with higher levels of co-benefits, particularly biodiversity and health benefits, are preferred by air passengers and confirms a preference for domestically based and certified VCO programs. The latent class choice model identified three classes with different preferences for VCO program attributes and demographic characteristics. The results of this study contribute to the knowledge of VCO co-benefits and imply that airlines should take note of this preference for biodiversity and health co-benefits when designing VCO programs and differentiate between market segments to increase the uptake of VCOs.

scholarly journals Loss Aversion and Consumption Choice: Theory and Experimental Evidence

2015 ◽  
Vol 7 (2) ◽  
pp. 101-120 ◽  
Author(s):  
Heiko Karle ◽  
Georg Kirchsteiger ◽  
Martin Peitz
Keyword(s):  
Experimental Evidence ◽  
Loss Aversion ◽  
Consumer Choice ◽  
Rational Expectations ◽  
Choice Theory ◽  
Choice Model ◽  
Reference Points ◽  
Price Uncertainty ◽  
Theoretical Predictions

We analyze a consumer-choice model with price uncertainty, loss aversion, and expectation-based reference points. The implications of this model are tested in an experiment in which participants have to make a consumption choice between two sandwiches. Participants differ in their reported taste for the two sandwiches and in their degree of loss aversion, which we measure separately. We find that more-loss-averse participants are more likely to opt for the cheaper sandwich, in line with theoretical predictions. The estimates in the model with rational expectations are slightly more significant than those with naïve expectations. (JEL D11, D12, D84, M31)

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