The 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...

Märkte für energieeffiziente Güter zeichnen sich typischerweise durch Informationsasymmetrien aus. Zertifizierte Öko-Labels einer unabhängigen Drittpartei stellen ein geeignetes Instrument dar, um solche Informationsasymmetrien am Markt zu überwinden und Vertrauen in die Gültigkeit von...

A vibrant literature has emerged that suggests willingness to pay and willingness to accept measures of value are quite different for inexperienced consumers but that value differences erode with market experience. One potential shortcoming of this literature is that market experience is...

Several empirical studies conclude that a majority of economic agents ignore some of observed product attributes when choosing among discrete alternatives. Many of these findings are based on latent class logit with partially constrained support points wherein the share of each point is...