Discrete/continous models of consumer demand
1982
Hanemann, W.M.
Extract: The paper is organized as follows. Section 2 describes a general procedure for constructing discrete/continous consumer demand models. In section 3 this procedure is applied to the development of specific models for quality-differentiated goods. A special feature of these models is that the consumer regards the different brands essentially as substitutes and thus prefers to buy only one brand at a time. Various utility models with this property are presented in section 3. Some extensions of these models are considered in section 4. The conclusions are summarized in section 5.
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