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on Discrete Choice Models |
| By: | Peter Arcidiacono; Attila Gyetvai; Arnaud Maurel; Ekaterina S. Jardim |
| Abstract: | This paper applies some of the key insights of dynamic discrete choice models to continuous-time job search models. We propose a novel framework that incorporates preference shocks into search models, resulting in a tight connection between value functions and conditional choice probabilities. Including preference shocks allows us to establish constructive identification of all the model parameters. Our method also makes it possible to estimate rich nonstationary job search models in a simple and tractable way, without having to solve any differential equations. We apply our framework to rich longitudinal data from Hungarian administrative records, allowing for nonstationarities in offer arrival rates, wage offers, and in the flow payoff of unemployment. Longer unemployment durations are associated with substantially worse wage offers and lower offer arrival rates, which results in accepted wages falling over time. |
| JEL: | C59 J62 J64 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:30655&r=dcm |
| By: | Magdalena Brzozowicz (Faculty of Economic Sciences, University of Warsaw) |
| Abstract: | In this study, I examined the influence of the framing effect on the valuation of consumption goods in realistic shopping settings. In four field experiments comprising 1602 shopping center customers as participants, I elicited willingness to pay (WTP) for consumer products by manipulating framing conditions (positive vs. negative framing). Although my four experiments involved two different types of products (durable vs. fast-moving), two different types of framing (attribute vs. goal) and two different valuation procedures (hypothetical vs. consequential), their results were remarkably consistent. I observed that the framing effect had no impact on WTP for the presented products. In the light of both this study and the existing literature, I suspect that the framing effect is more likely to appear in solely hypothetical judgement and assessment tasks than in the context of eliciting consumer WTP |
| Keywords: | framing effect, field experiment, willingness to pay, WTP |
| JEL: | D91 C93 M31 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:war:wpaper:2021-20&r=dcm |
| By: | Naghmeh Niroomand (Automotive Powertrain Technologies Laboratory, Empa - Swiss Federal Laboratories for Materials Science and Technology, Switzerland); Glenn P. Jenkins (Department of Economics, Queens University, Kingston, Ontario, Canada, K7L3N6 and Cambridge Resources International Inc.) |
| Abstract: | Nepal has suffered from the worst electricity shortages in South Asia. This study is an attempt to measure the willingness to pay for an improved service using a model of revealed preference. Respondents are asked about the actions they are taking to reduce the impact on their household or business of scheduled and unscheduled outages and more stable voltage. We estimate the averting expenditures that were being incurred to compensate for the lack of reliability of the electricity service. The estimated cost of the averting actions as a percentage of the electricity bills is 53 % for households, 47 % for small businesses, 46 % for medium businesses, and 35 % for large businesses. Based on the estimations, we find that in 2017 the annual benefit from improving the reliability of the electricity service would be approximately US$ 188 million with a present value over 20 years of US$ 1.6 billion. |
| Keywords: | averting expenditures; electricity; reliability; revealed preference; willingness to pay |
| JEL: | D61 Q41 |
| Date: | 2022–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:4597&r=dcm |
| By: | Khushboo Surana |
| Abstract: | I present a nonparametric method to empirically identify the degree of heterogeneity in individual preferences. Using revealed preference conditions for rational consumption behaviour, the method estimates interpersonal preference heterogeneity as the distance between individual preference rankings over a finite set of choice alternatives. An application to US consumption data drawn from the Panel Study of Income Dynamics shows that the method yields informative empirical results on the distance-based heterogeneity measure. I further show the usefulness of the method for applied demand analysis through three empirical applications. Specifically, I take the recovered estimates to form groups of individuals with similar preferences. I demonstrate that employing these preference types as separate units of analysis obtains more informative demand predictions, welfare evaluations and detection of functional misspecification in the case of parametric estimation. |
| Keywords: | Preference heterogeneity, Revealed preference analysis, Kemeny distance |
| JEL: | C14 C60 D11 D12 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:yor:yorken:22/09&r=dcm |
| By: | Christophe Martin (CSGA - Centre des Sciences du Goût et de l'Alimentation [Dijon] - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Dijon - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, Plateforme Chemosens [Dijon] - CSGA - Centre des Sciences du Goût et de l'Alimentation [Dijon] - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Dijon - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Marielle Harel-Oger (STLO - Science et Technologie du Lait et de l'Oeuf - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Gilles Garric (STLO - Science et Technologie du Lait et de l'Oeuf - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Yves Le Loir (STLO - Science et Technologie du Lait et de l'Oeuf - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Louis-Georges Soler (UMR PSAE - Paris-Saclay Applied Economics - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Stéphan Marette (UMR PSAE - Paris-Saclay Applied Economics - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | The objective of this work was to study the reaction of consumers to a technological innovation (a radically new manufacturing process) applied to a traditional product (cheese). A traditional cheese and two cheeses resulting from a new sustainable process were evaluated by 142 consumers. These cheeses were first evaluated blind, giving rise to liking score and willingness to pay (WTP). Following a message concerning the nature of the processes used for the three cheeses, the consumers gave their WTP once again. The last two stages of the protocol consisted of successively revealing two pieces of information concerning the benefits of the new process for health and the environment and in measuring, at each of these two stages, the WTP of the consumers. Blind tasting showed that the two new cheeses were less appreciated than the traditional cheese. The information concerning the nature of the processes used did not significantly influence the WTP of the new cheeses but caused a revaluation of the traditional cheese. Information on the benefits of the new process has reduced the gap between the WTP of the three cheeses by decreasing the WTP for the traditional cheese and increasing the WTP for the new cheeses. This information made it possible to compensate for differences in liking of 1 to 2 points on a scale of 10. However, there is heterogeneity in consumer reactions. Indeed, some consumers (23%) did not appreciate the sensory properties of the new cheeses, and despite the assimilation of the information concerning the benefits of the new process, their WTP remained lower than those of traditional cheese. These results show that there is no major opposition to the application of technological innovations to traditional products such as cheese and that information concerning health and environmental benefits is positively accepted. |
| Abstract: | L'objectif de ce travail était d'étudier la réaction des consommateurs à une innovation technologique (un procédé de fabrication radicalement nouveau) appliquée à un produit traditionnel (le fromage). Un fromage traditionnel et deux fromages issus d'un nouveau procédé durable ont été évalués par 142 consommateurs. Ces fromages ont d'abord été évalués en aveugle, ce qui a donné lieu à un score de préférence et à une volonté de payer (WTP). Après un message concernant la nature des procédés utilisés pour les trois fromages, les consommateurs ont à nouveau donné leur consentement à payer. Les deux dernières étapes du protocole consistaient à révéler successivement deux informations concernant les bénéfices du nouveau procédé pour la santé et l'environnement et à mesurer, à chacune de ces deux étapes, le CAP des consommateurs. La dégustation à l'aveugle a montré que les deux nouveaux fromages étaient moins appréciés que le fromage traditionnel. Les informations concernant la nature des procédés utilisés n'ont pas influencé de manière significative la VDP des nouveaux fromages mais ont provoqué une réévaluation du fromage traditionnel. Les informations sur les avantages du nouveau procédé ont réduit l'écart entre les VDP des trois fromages en diminuant la VDP du fromage traditionnel et en augmentant la VDP des nouveaux fromages. Cette information a permis de compenser des différences d'appréciation de 1 à 2 points sur une échelle de 10. Cependant, il existe une hétérogénéité dans les réactions des consommateurs. En effet, certains consommateurs (23%) n'ont pas apprécié les propriétés sensorielles des nouveaux fromages, et malgré l'assimilation des informations concernant les avantages du nouveau procédé, leur CAP est resté inférieur à celui du fromage traditionnel. Ces résultats montrent qu'il n'y a pas d'opposition majeure à l'application d'innovations technologiques à des produits traditionnels comme le fromage et que les informations concernant les avantages pour la santé et l'environnement sont acceptées positivement. |
| Keywords: | Food innovation,Cheese,Sustainability,Consumers preferences,Willingness to pay |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03842340&r=dcm |
| By: | Sato, Hideyasu |
| Keywords: | Food Consumption/Nutrition/Food Safety |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ags:asae21:329424&r=dcm |
| By: | Biao Yin (LVMT - Laboratoire Ville, Mobilité, Transport - ENPC - École des Ponts ParisTech - Université Gustave Eiffel); Fabien Leurent (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | A reliable public transport system is beneficial for people traveling in the metropolitan area. Transfer time in multimodal transit networks has been highlighted as one of the measures of public transport service quality. In this paper, we propose a novel method to estimate the passengers' transfer time between the transit modes (i.e., train, metro, and bus) based on the 2018 Household Travel Survey in the Paris region, France. The transit trips with a single transit leg are primarily studied, wherein average wait time and mode speeds are estimated through an integrated linear regression model. Based on these inferences, transfer time is deduced within the trips of multiple transit legs. The decomposition procedure of journey time facilitates the estimation of the time components, and reveals the transfer variability in mode, time, and space. From the results, we find that the transfer to the railway modes, especially to the metro, costs less time on average than the transfer to the bus in the study area. The transfer patterns in the morning and evening peak hours are different regarding the transfer duration and locations. Lastly, the results' reliability, method scalability, and potential applications are discussed in detail. |
| Keywords: | multimodal transit,average wait time,transit speed,transfer time,linear regression model |
| Date: | 2022–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03841390&r=dcm |