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2006-06-09
英文文献:The effects of experience on preference uncertainty: theory and empirics for environmental goods
英文文献作者:Czajkowski, Miko?aj,Hanley, Nick,LaRiviere, Jacob
英文文献摘要:
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 incorporated into a reduced form econometric model. We then estimate the model using data collected for two quasi-public goods. We find that the predictions of the theoretical exercise that additional experience with a good will make consumers more certain over their preferences in both mean and variance are supported in each case.
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