Identifying consumer heterogeneity is a central topic in marketing. While the main focus has been on developing models and estimation procedures that allow uncovering consumer heterogeneity in preferences, a new stream of literature has focused on models that account for consumers' heterogeneous...

The widespread use of pesticides in agriculture provides a particularly complex pattern of multidimensionalnegative side-effects, ranging from food safety related effects to the deterioratian of farmland ecosystems.The assessment of the economic implications of such negative processes is fraught...

The widespread use of pesticides in agriculture provides a particularly complex pattern of multidimensional negative side-effects, ranging from food safety related effects to the deterioration of farmland ecosystems. The assessment of the economic implications of such negative processes is...

Italian consumer' preferences regarding dealcoholized wines are measured in terms of alcoholic content and the dealcoholization intensity information on the label. The analysis assumes dealcoholized wine is an imperfect substitute for traditional wines. Dealcoholization level, price, and other...

Does attention have a causal impact on risky decisions? We address this question in a preregistered experiment in which participants accept or reject a series of mixed gambles while exogenously varying how information can be sampled. Specifically, in each trial participants observe the outcomes...

This paper introduces the random discounted expected utility (RDEU) model, which we have developed as a means to deal with heterogeneous risk and time preferences. The RDEU model provides an explicit linkage between preference and choice heterogeneity. We prove it has solid comparative statics,...

A common stochastic restriction in econometric models separable in the latent variables is the assumption of stochastic independence between the unobserved and observed exogenous variables. Both simple and composite tests of this assumption are derived from properties of independence empirical...

In this article we study patterns of vertical product differentiation in a multi-product monopoly using a random utility model. Prior research shows that applying such a model in a multi-product setting implies symmetric patterns of product differentiation in which all product variants of a...

This paper discusses how specification of probabilistic models for multistate duration data generated by individual choices should be justified on a priori theoretical grounds. Preferences are assumed represented by random utilities, where utilities are viewed as random also to the agent...

There is still considerable dispute about the magnitude of labor supply elasticities. While differences in micro and macro estimates are recently attributed to frictions and adjustment costs, we show that relatively low labor supply elasticities derived from microeconometric models can also be...