When Shelf-Based Scarcity Impacts Consumer Preferences

When do changes in consumer preferences make forecasts from choice-based conjoint models unreliable?

Modeling Interdependent Consumer Preferences

An individual's preference for an offering can be influenced by the preferences of others in many ways, ranging from the influence of social identification and inclusion, to the benefits of network externalities. In this paper, we introduce a Bayesian autoregressive discrete choice model to study the preference interdependence among individual consumers. The autoregressive specification can ref...

Wine Consumer Flavour Preferences

Wine companies have recognized the need to better understand consumer preferences to sustain and develop their business in a competitive global market. Such an understanding allows wineries to design wine styles that better respond to consumer needs, wants, and expectations. Current knowledge about the development of preference for foods and beverage supports the fact that a particular wine sty...

When Does Labor Scarcity Encourage Innovation?

This paper studies whether labor scarcity encourages technological advances, i.e., technology adoption or innovation, for example, as claimed by Habakkuk in the context of 19th-century United States. I de…ne technology as strongly labor saving if technological advances reduce the marginal product of labor and as strongly labor complementary if they increase it. I show that labor scarcity encour...

Consumer Preferences for Mass Customization

Increasingly, firms adopt mass customization, which allows consumers to customize products by self-selecting their most preferred composition of the product for a predefined set of modules. For example, PC vendors such as Dell allow customers to customize their PC by choosing the type of processor, memory size, monitor, etc. However, how such firms configure the mass customization process deter...