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European Review of Agricultural Economics Advance Access published online on February 28, 2008
European Review of Agricultural Economics, doi:10.1093/erae/jbn002
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© Oxford University Press and Foundation for the European Review of Agricultural Economics 2008; all rights reserved. For permissions, please email journals.permissions@oxfordjournals.org

My favourite is not on the shelf: effects of the revealed-preference bundle on consumers' stated choice

Wuyang Hu

University of Kentucky, Lexington, KY, USA

Corresponding author: Wuyang Hu, Department of Agricultural Economics, University of Kentucky, Lexington, KY, 40546 USA. E-mail: wuyang.hu{at}uky.edu

Received April 2007; final version received December 2007

Based on a conjoint choice experiment relating to canola oil in Japan, this article establishes and tests the impacts of various measures of reference dependence on choice. Results show that although reference dependence may be defined within choice tasks as a type of choice complexity, a broader and more logical definition should be based on respondents' revealed-preference bundle. This broader definition allows for a richer representation and interpretation of behaviour. It is found that references may affect choices through different channels and that many of these effects are non-linear.

Keywords: complexity, random utility, reference dependence, stated choice, variety seeking

JEL classification: C81, D12


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