The problem of inferring unrealistically high prices from choice-based conjoint optimization exercises is widely known among market research practitioners and applied marketing researchers. The literature suggests two approaches to alleviate this problem. One focuses on making the hypothetical...

Both instrumental variable (IV) estimation and mediation analysis are tools for causal inference. However, IV estimation has mostly developed in economics for causal inference from observational data. In contrast, mediation analysis has mostly developed in psychology, as a tool to empirically...

Distributions of preferences and other economic primitives are often key inputs in market-level counterfactual analyses. In empirical work, these distributions must be inferred from finite amounts of data where measures of statistical fit often favor simple — yet ad-hoc — parametric...

This paper estimates an individual level demand model for eggs differentiated by animal welfare. Typically, after minimum quality standards for eggs are raised, the price of higher quality eggs falls. As a result, consumer welfare is redistributed from households who do not value animal welfare...