The effects of experience on preference uncertainty: theory and empirics for environmental goods
| dc.creator | Czajkowski, Mikołaj | |
| dc.creator | Hanley, Nick | |
| dc.creator | LaRiviere, Jacob | |
| dc.date | 2017-04-01T19:26:48Z | |
| dc.date.accessioned | 2026-07-09T07:13:50Z | |
| dc.description | 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. | |
| dc.identifier | doi:10.22004/ag.econ.152155 | |
| dc.identifier | https://ageconsearch.umn.edu/record/152155/files/CP%20Hanley.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/152155 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/585978 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/152155 | |
| dc.title | The effects of experience on preference uncertainty: theory and empirics for environmental goods | |
| dc.type | Text |