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Miscellaneous
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| Number of pages / Number of words: |
14 / 3756 |
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Economic theory models consumers' preferences using an additive utility function that links product attributes to consumer demand (Lancaster 1971). Each positively valued attribute increases consumers' utility. Similarly, market research techniques such as conjoint analysis or discrete choice analysis model each product as a bundle of attributes and estimate part worth for each attribute (Srinivasan, Lovejoy and Beach 1997)...
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Economic theory models consumers' preferences using an additive utility function that links product attributes to consumer demand (Lancaster 1971). Each positively valued attribute increases consumers' utility. Similarly, market research techniques such as conjoint analysis or discrete choice analysis model each product as a bundle of attributes and estimate part worth for each attribute (Srinivasan, Lovejoy and Beach 1997)...
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General points of the essay
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