A relative increase in demand for one type of beef can have one of two potentially countervailing effects: it can cause substitution of one type for another and/or it might expand overall demand. The results of a random parameters logit analysis indicate that regardless of whether USDA Choice or...

A relative increase in demand for one type of beef can have one of two potentially countervailing effects: it can cause substitution of one type for another and/or it might expand overall demand. The results of a random parameters logit analysis indicate that regardless of whether USDA Choice or...

Six popular crop yield distributions are compared to determine which best describes yield fluctuations out-of-sample. For 183 crop and county combinations, each distribution is estimated and ranked according to its log-likelihood function observed at out-of-sample observations. A semiparametric...

We compare the ability of three preference elicitation methods (hypothetical choices, non-hypothetical choices, and non-hypothetical rankings) and three discrete-choice econometric models (the multinomial logit, the independent availability logit, and the random parameter logit) to predict...

Both bodies of the U.S. Congress have recently considered legislation to restrict use of antibiotics in livestock feed. Although several studies have addressed the costs of such restrictions, little is known about consumer demand. This study estimates consumers' willingness to pay for pork...

Little research has been conducted on evaluating out-of sample forecasts of discrete dependent variables. This study describes the large and small sample properties of two forecast evaluation techniques for discrete dependent variables: receiver-operator curves and out-of-sample log-likelihood...

Several recent studies have found important differences between behavior in the laboratory and the field. We explore two possible causes for the divergence: social concerns and unfamiliarity with the traded good. Consistent with our conceptual model, we find that people overstated their...

We compare the ability of three preference elicitation methods (hypothetical choices, nonhypothetical choices, and nonhypothetical rankings) and three discrete-choice econometric models (the multinomial logit [MNL], the independent availability logit [IAL], and the random parameter logit [RPL])...

Recent marketing and psychological studies have shown that more choice does not always benefit consumers. This excessive-choice effect (ECE) is examined empirically using food items in four experiments. The first experiment investigates whether people would voluntarily reduce their choice-set...