Huffman, Wallace E.; Rousu, Matthew C.; Shogren, Jason F.; … - Iowa State University of Science and Technology <Ames, … - 2004
In most environments, information is critical to consumer's decision making. Consumers have prior beliefs about quality and price of goods and services and obtain new information which is used to update these prior beliefs or to form posterior beliefs, i.e., Bayesian learning. New food products...