TY  - CHAP
AB  - In this chapter, we describe how random utility maximization (RUM) discrete choice models are used to estimate the demand for commodity attributes in quality-differentiated goods. After presenting a conceptual overview, we focus specifically on the conditional logit model. We examine technical issues related to specification, interpretation, estimation, and policy use. We also discuss identification strategies for estimating the role of price and non-price attributes in preferences when product attributes are incompletely observed. We illustrate these concepts via a stylized application to new car purchases, in which our objective is to measure preferences for fuel economy.
VL  - 288
SN  - 978-1-84855-313-2, 978-1-84855-312-5/0573-8555
DO  - 10.1108/S0573-8555(2009)0000288015
UR  - https://doi.org/10.1108/S0573-8555(2009)0000288015
AU  - Phaneuf Daniel J.
AU  - von Haefen Roger H.
ED  - Daniel J. Slottje
PY  - 2009
Y1  - 2009/01/01
TI  - Chapter 12 Estimating the Demand for Quality with Discrete Choice Models
T2  - Quantifying Consumer Preferences
T3  - Contributions to Economic Analysis
PB  - Emerald Group Publishing Limited
SP  - 317
EP  - 347
Y2  - 2024/04/25
ER  -