Methodology of Preference Measurement. Prediction of Consumer Choice

reportActive / Technical Report | Accesssion Number: AD0617921 | Open PDF

Abstract:

A model is presented for predicting the proportion of consumers who purchase each of three competing objects differing in price. The model is applied to predict proportions of consumers purchasing each of three luncheon entrees on several criterion days. Preference parameters are estimated from responses to a food preference schedule by a least squares method of successive intervals; an iterative solution is utilized for estimating the utility of each price level. Results indicate that the model is tenable, and suggest a non-monotonic relationship between utility of price and monetary price level within the range of prices investigated.

Author(s):
Jones, Lyle V.
Author Organization(s):
CHICAGO UNIV IL
Funding Organization(s):
US Army Quartermaster Food and Container Institute for the Armed Forces, Chicago , IL
Document Type:
Technical Report/Progress Report
Publication Date:
1956 Jul 31
Pagination:
10

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution Code:
A - Approved For Public Release
Distribution Statement: Public Release

RECORD

Collection: TRECMS
Identifying Numbers
Contract Number(s):
DA19-129-QM-272
Project Number(s):
7-84-15-007
Subject Terms
Communities of Interest:
No COI(s) Identified
Descriptor(s):
birds, normal distribution, consumers, equations, least squares method, intervals, psychology, consistency, containers, data science, frequency, illinois, information science, integrals, universities
Subject Categories:
Behavioral and Social Sciences; Biological and Medical Sciences; Mathematical and Computer Sciences
Update Date:
2022 Mar 03