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This paper reviews the current literature on theoretical and methodological issues in discrete choice experiments, which have been widely used in non-market value analysis, such as elicitation of residents' attitudes toward recreation or biodiversity conservation of forests.

We review the literature, and attribute the possible biases in choice experiments to theoretical and empirical aspects. Particularly, we introduce regret minimization as an alternative to random utility theory and sheds light on incentive compatibility, status quo, attributes non-attendance, cognitive load, experimental design, survey methods, estimation strategies and other issues.

The practitioners should pay attention to many issues when carrying out choice experiments in order to avoid possible biases. Many alternatives in theoretical foundations, experimental designs, estimation strategies and even explanations should be taken into account in practice in order to obtain robust results.

The paper summarizes the recent developments in methodological and empirical issues of choice experiments and points out the pitfalls and future directions both theoretically and empirically.

Time pressure may change how people behave. The multiplicity of options and the nature of the products, hedonic or utilitarian, might increase the complexity of the choice and alter the effects of time pressure. Combining both factors, the purpose of this paper is to verify the moderating role played by the nature of the products observing the relationship between interaction (time pressure × multiplicity of options) and choice delay.

A two-level factorial experimental design was applied (time pressure: with; without) × 2 (number of alternatives: two; six) × 2 (type of purchase: hedonic; utilitarian), with mixed design, considering the purchase delay a dependent variable.

The results signal that the nature of the products moderates the effects of the interaction between time pressure and choice overload in purchase delay. Utilitarian purchases are more susceptible to the effects of time pressure and options overload than hedonic purchases.

The interaction between time pressure and choice overload, researched in previous works, influences in different ways the purchase of utilitarian or hedonic products. This differentiation, taking into consideration the type of product, brings new perspectives on the purchase decision process and provides theoretical and practical information on the effects of information overload and time pressure over the consumer decision-making process.

Packaging and labelling have become essential to how food manufacturers generate and deliver value to customers. The information displayed on the packaging can be used to communicate to customers the properties and unique characteristics of a food product (e.g. nutrients, calories and country of origin). To achieve communication goals effectively, manufacturers need to understand how consumers evaluate products based on their attributes. In particular, companies should be aware of which specific product attributes affect consumer buying behaviour and which product attributes are more critical during food assessment. So, the paper aims to investigate consumer's behaviuor linked to typical product attributes indicated on the packaging.

The present study examines consumer willingness to pay (WTP) for a cherry jam with different attributes (brand, type of production method and price) on a sample of 2,166 Italian respondents through a choice experiment using a random parameter logit-error component model.

The results showed that WTP for jams can be affected by attributes such as brand, price and production methods; precisely, they indicated that the level of naturalness in the production process constitutes the main element for the consumer’s choice; however, the considerable weight that price and brand have in influencing the purchasing behaviour of the food consumer was still confirmed: in fact, a p-value of less than 0.05 was found in all cases.

To the best of the authors’ knowledge, this is the first study that assesses the effect of different types of production on WTP for food products. In addition, this study also reflects on the importance of the level of education for consumer choice.

Enrolling in an academic discipline or selecting the college major choice is a dynamic process. Very few studies examine this aspect in India. This paper makes a humble attempt to fill this gap using NSSO 71st round data on social consumption on education. The purpose of this paper is to use multinomial regression model to study the different factors that influence course choice in higher education. The different factors (given the availability of information) considered relate to ability, gender, cost of higher education, socio-economic and geographical location. The results indicate that gender polarization is apparent between humanities and engineering. The predicated probabilities bring out the dichotomy between the choice of courses and levels of living expressed through consumption expenditures in terms of professional and non-professional courses. Predicted probabilities of course choices bring in a clear distinction between south and west regions preferring engineering and other professional courses, whereas north, east and NES prefer humanities.

The present paper follows the same approach as that of Turner and Bowen (1999). The Multinomial regression is specified as P ( M i = j ) = ( exp ( β j × X i ) / ∑ j − 1 5 exp ( β j × X i ) ) , where P (M_i=j) denotes the probability of choosing outcome j, the particular course/major choice that categorizes different disciplines. This response variable is specified with five categories: such as medicine, engineering, other professional courses, science and humanities. The authors’ primary interest is to determine the factors governing an individual’s decision to choose a particular subject field as compared to humanities. In other words, to make the system identifiable in the MLR, humanities is treated as a reference category. The vector X_i includes the set of explanatory variables and β_j refers to the corresponding coefficients for each of the outcome j. From an aggregate perspective, the distribution of course choices is an important input to the skill (technical skills) composition of future workforce. In that sense, except humanities, the rest of the courses are technical-intensive courses; hence, humanities is treated as a reference category.

The results indicate that gender polarization is apparent between humanities and engineering. The predicated probabilities bring out the dichotomy between the choice of courses and levels of living expressed through consumption expenditures in terms of professional and non-professional courses. Predicted probabilities of course choices bring in a clear distinction between south and west regions preferring engineering and other professional courses, whereas north, east and NES prefer humanities.

Predicted probabilities of course choices bring in a clear distinction between south and west regions preferring engineering and other professional courses, whereas north, east and NES prefer humanities. This course and regional imbalance need to be worked with multi-pronged strategies of providing both access to education and employment opportunities in other states. But the predicted probabilities of medicine and science remain similar across the board. Very few research studies on the determinants of field choice in higher education prevail in India. Research studies on returns to education by field or course choices hardly exist in India. These evidences are particularly important to know which course choices can support student loans, which can be the future area of work.

The research evidence is particularly important to know which course choices can support student loans, which can be the future area of work, as well as how to address the gender bias in the course choices.

The paper has social implications in terms of giving insights into the course choices of students. These findings bring in implications for practice in their ability to predict the demand for course choices and their share of demand, not only in the labor market but also across regions. India has 36 states/UTs and each state/UT has a huge population size and large geographical areas. The choice of course has state-specific influence because of nature of state economy, society, culture and inherent education systems. Further, within the states, rural and urban variation has also a serious influence on the choice of courses.

The present study is a value addition on three counts. First, the choice of courses includes the recent trends in the preference over market-oriented/technical courses such as medicine, engineering and other professional courses (chartered accountancy and similar courses, courses from Industrial Training Institute, recognized vocational training institute, etc.). The choice of market-oriented courses has been examined in relation to the choice of conventional subjects. Second, the socio-economic background of students plays a significant role in the choice of courses. Third, the present paper uses the latest data on Social Consumption on Education.

This study aims to introduce the duration of uniqueness, an important dimension of unique products. It studies how choices between products with long versus short duration of uniqueness are influenced by the interaction between pressure and consumers’ need for uniqueness (NFU).

This research uses a multi-method study approach. A pilot field-study tested the novelty and importance of the research by asking retail professionals to predict the choice of a hypothetical consumer. A retrospective study assessed the importance of duration of uniqueness in unique product choices, by asking consumers about a real and recent unique product purchase. Four additional experimental studies directly tested hypotheses by manipulating pressure and by measuring or manipulating uniqueness motivations.

The pilot field-study showed the novelty and relevance of this research for professionals. Study 1 revealed that, retrospectively, uniqueness duration was considered important for the choice of unique products, by high-NFU consumers under pressure. Studies 2 and 3 demonstrated that pressure increases the tendency of high-NFU, but not low-NFU, consumers to choose products with long over short uniqueness duration. Study 4 provided initial evidence for the process behind the effect. Study 5 showed that considerations of uniqueness duration when choosing mediated the effects.

The results of the pilot field-study and retrospective study might be affected by recall bias or lay theories. The findings need to be replicated with other sources of pressure and uniqueness. This calls for further research.

Results are important for companies marketing unique products and they suggest that pressure-based marketing appeals can be used strategically to increase sales of products with long uniqueness duration but decrease sales of products with short uniqueness duration. Although the research provides these guidelines, managers should consider the ethical implications of pressure strategies.

This is the first attempt to empirically investigate the duration of uniqueness. Although extant research has examined choices between products with different degrees of uniqueness, this research studies choice of products with similar degrees of uniqueness, but different uniqueness duration. Thus, this research adds to the scarce literature studying the duration of symbolic benefits. Moreover, although pressure and NFU frequently co-exist in uniqueness consumption settings, this study is the first to study their joint effects.

This paper aims to understand the perception of smallholder farmers on climate change, identify major livestock related climate change adaptation (CCA) strategies and their determinants in selected neighboring districts of Tigray and Amhara regions of Ethiopia.

A total of 416 household heads were involved in a questionnaire survey using a multistage sampling approach. To understand the socio-economic factors that influence farmers’ perception on climate change (CC) and/or variability, a binary logit model was used. Multinomial logit model was used to identify the determinants of smallholder farmers’ choices of adaptation strategies.

Milk reduction, weight loss, feed shortage and frequent animal disease outbreak were indicated as major impacts of CC on livestock production. About 86.2% of the farmers’ exercise CCA measures where livestock health care and management (25%), followed by livelihood diversification (21.5%) and shifting and diversification of livestock species (20.9%) were the top three adaptation measures implemented. Education, knowledge on CCA strategies, access to veterinary service and extension, market access, annual income, non-farm income, total livestock unit, sex of household head and household size were the major determinant factors to farmers’ choice of CCA.

Concerned authorities working in CC related sectors should give due attention to improve smallholder farmers’ access to extension and veterinary services, market access and climate information to enhance their adaptive capacity to CC impacts. In addition, incorporating climate change awareness trainings into the existing extension packages is crucial to enhance the awareness of farmers on climate change and implement appropriate adaptation strategies. Moreover, it is very essential to provide appropriate herd management and marketing strategy based on the production system to avoid the significant price reduction during drought periods.

Concerned authorities working in CC related sectors should give due attention to improve smallholder farmers’ access to extension and veterinary services, market access and climate information to enhance their adaptive capacity to CC impacts. In addition, incorporating climate change awareness trainings into the existing extension packages is crucial to implement appropriate adaptation strategies. Moreover, it is very essential to provide appropriate herd management and marketing strategy based on the production system to avoid the significant price reduction during drought periods.

This research is focused on smallholder crop-livestock farmers, livestock-based CCASs and presents the determinant factors to their choice of adaptation.

Over the past two decades, online booking has become a predominant distribution channel of tourism products. As online sales have become more important, understanding booking conversion behavior remains a critical topic in the tourism industry. The purpose of this study is to model airline search and booking activities of anonymous visitors.

This study proposes a stochastic approach to explicitly model dynamics of airline customers’ search, revisit and booking activities. A Markov chain model simultaneously captures transition probabilities and the timing of search, revisit and booking decisions. The suggested model is demonstrated on clickstream data from an airline booking website.

Empirical results show that low prices (captured as discount rates) lead to not only booking propensities but also overall stickiness to a website, increasing search and revisit probabilities. From the decision timing of search and revisit activities, the author observes customers’ learning effect on browsing time and heterogeneous intentions of website visits.

This study presents both theoretical and managerial implications of online search and booking behavior for airline and tourism marketing. The dynamic Markov chain model provides a systematic framework to predict online search, revisit and booking conversion and the time of the online activities.

This study investigates whether higher catch rates near a marine protected area (MPA), and/or in other fishing areas within a choice set, attract more fishers. A survey conducted in the fishing grounds near an MPA located in south east of Mauritius in the Indian Ocean shows concentration of fishers in regions with lower catch rates. This contrasts with the predictions of the “fishing the line” hypothesis and the ideal free distribution (IFD) that fishers are likely to be attracted near the MPA with higher resource abundance.

Using the random utility model as the framework and the random parameter logit (RPL) model, the study attempts to explain spatial behaviour of fishers. Expected catch and catch variability are modelled using the Just and Pope (JP) production function. The study also estimates effort elasticities with respect to expected catch and catch variability and simulates the relocation of effort from area closure.

The paper concludes that higher catch does attract fishers but is a partial and very restrictive explanation of fishers' behaviour. The “fishing the line” hypothesis does hold to some extent, but it should not be taken for granted that rising catch rates in adjacent waters will increase fishing pressure. The paper concludes that factors such as catch variability, distance from homeport to fishing ground, potential physical risk and attitudes towards risk of fishers affect spatial behaviour of fishers and should be considered for the placement and size of MPAs. The study also finds that the responsiveness of effort to catch rates is lowest in areas which are already heavily fished and easily accessible.

The identification of fishing areas as complements (when fishing in one area increases fishing effort in another) and substitutes is valuable information for determining the placement and size of an MPA. A larger reserve is likely to have more displacement effect in this case than a smaller one. Therefore, a small or a network of a small reserve may be appropriate. The premise to select the site and size of the reserve is to avoid overconcentration of fishers in alternative fishing areas, which can be vulnerable to excessive fishing and unintended effects from fishers.

The paper contributes to an understanding of fishing behaviour and its impact on the configuration of marine reserves. It discusses the importance of effort elasticities to determine the placement and size of an MPA. Studies on this topic are very scanty in the Indian Ocean region. It also shows the application of location choice model, the RPL model and the JP production function in the fisheries sector for a small island.

The authors propose a dairy bundle, integrating strategies to jointly maximise producer revenue and consumer utility according to the latter's preferences.

An algorithm based on a nested logit model identifies the bundle maximising producer revenue based on factors affecting consumer purchase behaviour. The data are drawn from a mall-intercept survey administered in Iran, with consumers stating a hypothetical choice among a comprehensive set of dairy products.

Demographic characteristics and marketing mix elements significantly affect consumers' preferences. An algorithm based on the estimated dissimilarity parameter determines the best bundle of dairy products, simultaneously obtaining the highest utility and the highest expected revenue.

Consumer preference and maximum producer or retail seller income are considered simultaneously. The bundling promotion strategy is widely used for food offerings and fresh foods and can be extended to other products.

我們擬根據消費者偏好，提出一個整合了多個策略的捆綁包，以使生產製作者得到最高的收入和最佳的消費者效用。

研究人員根據巢式Logit 模型的演算法確認了一個捆綁包，以使生產製作者能得到最高的收入，而這均建基於會影響消費者購買行為的各個因素。有關的數據取自於伊朗的商場內進行的攔截調查，而回應的消費者須假想他們從一整套乳製品中選擇他們會購買的產品。

研究結果顯示，人口特徵和市場營銷組合元素均會顯著地影響消費者的偏好，一個基於估算的相異性參數而建立的演算法可確認最佳的乳製品捆綁包，這演算法同時也可取得最佳的裨益和最高的預期收入。

於本研究中，研究人員同時考慮消費者的偏好和生產製作者或零售賣家的最高收入。捆綁式的促銷策略在食物供品和新鮮食品方面被廣泛使用，這策略可擴展至其他產品。

乳製品捆綁包、消費者偏好、最佳化演算法、巢式Logit 模型.

This paper aims to examine the interrelation between two innovating strategies (product and process) on total factor productivity (TFP) growth and the dynamic linkages between these strategies, for Colombia. The authors first explore whether ex ante more productive firms are those that introduce innovations (the self-selection hypothesis) and if the introduction of innovations boosts TFP growth (the returns-to-innovation hypothesis). Second, the authors study the firm’s joint dynamic decision to implement process and/or product innovations. The authors use Colombian manufacturing data from the Annual Manufacturing and the Technological Development and Innovation Surveys.

This study uses a four-stage procedure. First, the authors estimate TFP using a modified version of Olley and Pakes (1996) and Levinsohn and Petrin (2003), proposed by De Loecker (2010), that implements an endogenous Markov process where past firm innovations are endogenized. This TFP would be estimated by GMM, Wooldridge (2009). Second, the authors use multivariate discrete choice models to test the self-selection hypothesis. Third, the authors explore, using multi-value treatment evaluation techniques, the life span of the impact of innovations on productivity growth (returns to innovation hypothesis). Fourth, the authors analyse the joint likelihood of implementing process and product innovations using dynamic panel data bivariate probit models.

The investigation reveals that the self-selection effect is notably more pronounced in the adoption of process innovations only, as opposed to the adoption of product innovations only or the simultaneous adoption of both process and product innovations. Moreover, our results uncover distinct temporal patterns concerning innovation returns. Specifically, process innovations yield immediate benefits, whereas implementing both product innovations only and jointly process and product innovations exhibit significant, albeit delayed, advantages. Finally, the analysis confirms the existence of dynamic interconnections between the adoption of process and product innovations.

The contribution of this work to the literature is manifold. First, the authors thoroughly investigate the relationship between the implementation of process and product innovations and productivity for Colombian manufacturing explicitly recognising that firms’ decisions of adopting product and process innovations are very likely interrelated. Therefore, the authors start exploring the self-selection and the returns to innovation hypotheses accounting for the fact that firms might implement process innovations only, product innovations only and both process and product innovations. In the analysis of the returns of innovation, the fact that firms may choose among a menu of three innovation strategies implies the use of evaluation methods for multi-value treatments. Second, the authors study the dynamic inter-linkages between the decisions to implement process and/or product innovations, that remains under studied, at least for emerging economies. Third, the estimation of TFP is performed using an endogenous Markov process, where past firms’ innovations are endogenized.