Discrete Choice Models with Heterogeneous Preferences and Consideration
Abstract/Contents
- Abstract
- This paper proposes a discrete choice model where decision makers differ both in their preferences as well as in the products they consider – their consideration sets. The paper shows how to point identify both the preference distribution and the consideration set formation mechanism under a wide range of assumptions and consideration set formation mechanisms. In particular, we show that identification can be attained even when the consideration changes with preferences as well as with (many of the) product characteristics. We compare our model with the standard mixed logit model and the pure characteristics demand model. We illustrate the properties of our approach and its computational advantages in large scale simulations and an empirical application.
Description
| Type of resource | text |
|---|---|
| Date created | July 14, 2021 |
Creators/Contributors
| Author | Aguiar, Victor H. |
|---|---|
| Author | Barseghyan, Levon |
| Author | Molinari, Francesca |
| Organizer of meeting | Santos, Andres |
| Organizer of meeting | Shaikh, Azeem |
| Organizer of meeting | Wolak, Frank |
Subjects
| Subject | economics |
|---|---|
| Genre | Text |
| Genre | Working paper |
| Genre | Grey literature |
Bibliographic information
Access conditions
- Use and reproduction
- User agrees that, where applicable, content will not be used to identify or to otherwise infringe the privacy or confidentiality rights of individuals. Content distributed via the Stanford Digital Repository may be subject to additional license and use restrictions applied by the depositor.
- License
- This work is licensed under a Creative Commons Attribution 4.0 International license (CC BY).
Preferred citation
- Preferred citation
- Aguiar, V., Barseghyan, L., and Molinari , F. (2022). Discrete Choice Models with Heterogeneous Preferences and Consideration. Stanford Digital Repository. Available at https://purl.stanford.edu/sb297jv3738
Collection
SITE Conference 2021
View other items in this collection in SearchWorksContact information
- Contact
- siteworkshop@stanford.edu
Also listed in
Loading usage metrics...