Statistical Properties of Consideration Sets

Consideration sets have become a central concept in the study of consumer behavior. Frequently, consumers are asked to split choice alternatives into those that that they would consider and those that they would not. Information on alternatives not in the consideration set is then typically not used in subsequent analysis. This practice is shown to lead to biased estimates of preference parameters. The reason for this is shown to be a form of sample selection bias.

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Year of publication:	2006-07-01
Authors:	Carson, Richard T. ; Louviere, Jordan J.
Institutions:	Department of Economics, University of California-San Diego (UCSD)
Subject:	choice models \| random utility \| sample selection bias

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Extent:	application/pdf
Series:	University of California at San Diego, Economics Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Department of Economics, UCSD
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010602106