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000008639 037__ $$a1835-2016-149214
000008639 037__ $$a1835-2016-150012
000008639 041__ $$aen
000008639 245__ $$aBargains or Rip-offs? Reference Price Effects in Conjoint Stated Demand
000008639 260__ $$c2007-08
000008639 269__ $$a2007-08
000008639 300__ $$a17
000008639 336__ $$aJournal Article
000008639 446__ $$aEnglish
000008639 520__ $$aThis study incorporates reference point effects into a stated choice survey of consumer demand for food with credence attributes. Parametric tests can be applied to the utility function to examine the existence of reference price effects. Results are consistent with prospect theory in that consumers exhibit strong and nonlinear reference price effects, with cheaper prices receiving less decision weight than higher prices. The underlying utility function is concave over lowered prices and convex over increased prices, with diminishing sensitivity in both domains. The study, however, did not find experience or consumers' attitudes to be significant in explaining reference price effects.
000008639 650__ $$aDemand and Price Analysis
000008639 6531_ $$acanola oil
000008639 6531_ $$aconjoint
000008639 6531_ $$aprospect theory
000008639 6531_ $$areference price effects
000008639 700__ $$aHu, Wuyang
000008639 773__ $$dAugust 2007$$jVolume 32$$kNumber 2$$o272$$q256$$tJournal of Agricultural and Resource Economics
000008639 8564_ $$s6588576$$uhttp://ageconsearch.umn.edu/record/8639/files/32020256.pdf
000008639 887__ $$ahttp://purl.umn.edu/8639
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  Previous issue date: 2007-08
000008639 982__ $$gJournal of Agricultural and Resource Economics>Volume 32, Number 02, August 2007
000008639 980__ $$a1835