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...

The objective of this paper is to review likely trends in key drivers of productivity with a view to suggesting the rate of productivity growth that is likely to be required to maintain the competitiveness of Australian agriculture both within the Australian economy and relative to the...

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...