A vibrant literature has emerged that suggests willingness to pay and willingness to accept measures of value are quite different for inexperienced consumers but that value differences erode with market experience. One potential shortcoming of this literature is that market experience is...

Several empirical studies conclude that a majority of economic agents ignore some of observed product attributes when choosing among discrete alternatives. Many of these findings are based on latent class logit with partially constrained support points wherein the share of each point is...

Product information which is beneficial for an individual consumer may hurt if disseminated widely. Even with rational expectations a fallacy of composition may occur if information leads to demand and price increases

A bucket pricing plan charges a periodic (usually monthly) fixed price that allows consumers to use the service up to a set allowance. The determination of optimal plans requires knowledge about each consumer's simultaneous decision about service subscription, plan choice, and consumption, which...