This paper develops a model of demand estimation in which consumers learn about their true preferences through consumption experiences. We develop a theoretical model of Bayesian updating, perform comparative statics over the model, and show how the theoretical model can be consistently...

We present a new Bayesian econometric speci…cation for a hypothetical Discrete Choice Experiment (DCE) incorporating respondent ranking information about attribute impor- tance. Our results indicate that a DCE debrie…ng question that asks respondents to rank the importance of attributes helps...

How much has food abundance, attributable to U.S. public agricultural R&D, contributed to the high and rising U.S. obesity rates? In this paper we investigate the effects of public investment in agricultural R&D on food prices, per capita calorie consumption, adult body weight, obesity, public...

Information deficiencies make selecting investments in R,D & E projects a difficult and uncertain task. Gardner (2004) likened the challenges and uncertainties of choosing the right mix of R,D&E projects to that of recruiting football players or breeding racehorses. In this paper approaches are...