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 research in this paper considers the question of the possible sources of total factor productivity (TFP) change in the Victorian dairy sector between 2007–08 and 2010–11. The analysis explores the components of TFP growth for a sample of dairy enterprises in Victoria using farm monitor...

Thi~ paper con~iders the nature of preferences for the preservation of biodiversity, and the extent to which individuab are well-informed about biodiversity. We present evidence that the elicitation of monetary bids to pay for biodiversity preservation, as required for cost-benefit analysis,...