Huffman, Wallace E.; Rousu, Matthew C.; Shogren, Jason F.; … - Iowa State University of Science and Technology <Ames, … - 2004
In most environments, information is critical to consumer's decision making. Consumers have prior beliefs about quality … and price of goods and services and obtain new information which is used to update these prior beliefs or to form … posterior beliefs, i.e., Bayesian learning. New food products made from herbicide-tolerant and insect-resistant crops using …