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dc.contributor.authorGriffith, Rachelen_US
dc.contributor.authorNesheim, Larsen_US
dc.date.accessioned2010-10-07en_US
dc.date.accessioned2012-10-16T13:12:34Z-
dc.date.available2012-10-16T13:12:34Z-
dc.date.issued2010en_US
dc.identifier.pidoi:10.1920/wp.cem.2010.2410en_US
dc.identifier.urihttp://hdl.handle.net/10419/64750-
dc.description.abstractThe recent literature has brought together the characteristics model of utility and classic revealed preference arguments to learn about consumers' willingness to pay. We incorporate market pricing equilibrium conditions into this setting. This allows us to use observed purchase prices and quantities on a large basket of products to learn about individual household's willingness to pay for characteristics, while maintaining a high degree of flexibility and also avoiding the biases that arise from inappropriate aggregation. We illustrate the approach using scanner data on food purchases to estimate bounds on willingness to pay for the organic characteristic. We combine these estimates with information on households' stated preferences and beliefs to show that on average quality is the most important factor affecting bounds on household willingness to pay for organic, with health concerns coming second, and environmental concerns lagging far behind.en_US
dc.language.isoengen_US
dc.publisherCentre for Microdata Methods and Practice Londonen_US
dc.relation.ispartofseriescemmap working paper CWP24/10en_US
dc.subject.jelD12en_US
dc.subject.jelL11en_US
dc.subject.jelL81en_US
dc.subject.jelQ51en_US
dc.subject.jelC81en_US
dc.subject.ddc330en_US
dc.subject.stwBiokosten_US
dc.subject.stwHedonischer Preisindexen_US
dc.subject.stwKonsumentenverhaltenen_US
dc.subject.stwOffenbarte Präferenzenen_US
dc.subject.stwWillingness to payen_US
dc.subject.stwTheorieen_US
dc.titleEstimating households' willingness to payen_US
dc.typeWorking Paperen_US
dc.identifier.ppn63632091Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:cemmap working papers, Centre for Microdata Methods and Practice, Institute for Fiscal Studies (IFS)

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