The Occasional Paper on behavioural economics published by the Financial Conduct Authority (FCA) in April 2013 concluded that the effective regulation of retail financial markets requires a deeper and more realistic understanding of how consumers behave and what choices they find particularly...

I formulate an econometric model of consumer learning and experimentation about new products in markets for packaged goods that nests alternative sources of dynamics. The model is estimated on household level scanner data of laundry detergent purchases, and the results suggest that consumers...

We integrate a neuroeconomic concept of habit into a structural consumer choice model. We propose that habit represents a distinct decision-making mode, in which past choices are automatically repeated, in contrast with state- dependent utility maximization. Transitions between these decision...

By April 2013, the FCC's recent bill-shock agreement with cellular carriers requires consumers be notified when exceeding usage allowances. Will the agreement help or hurt consumers? To answer this question, we estimate a model of consumer plan choice, usage, and learning using a panel of...