A New Approach to Consumer Theory

By K. Lancaster. 1966

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Citations in the corpus

Panel Data Discrete Choice Models of Consumer Demand (2013, background): “A utility function that is linear in attributes is quite standard in the demand literature (see Lancaster (1966) for the classic exposition of attribute based utility).”
Spatial Heterogeneity in Hedonic House Price Models: The Case of Austria (2014, methodology): “The test statistic after Leung et al. (2000a) does not reject the H0 of stationary parameters for six out of 16 variables.”
The importance of deliberation in valuing ecosystem services in developing countries - evidence from the Solomon Islands (2011, unknown): “component attributes (Lancaster, 1966).”
Product Attributes and Models of Multiple Discreteness (2007, unknown): “Once product characteristics are considered as drivers of utility, it is natural to consider a characteristics approach to demand such as that offered by Lancaster (1966) (see also Berry and Pakes 2002).”
An Equilibrium Model of Institutional Demand and Asset Prices (2016, unknown): “We take a diﬀerent approach that is inspired by the industrial organization literature on diﬀerentiated product demand systems (Lancaster 1966; Rosen 1974).”
CERTIFICATION OF SHRIMP AND SALMON FOR BEST AQUACULTURE PRACTICES: ASSESSING CONSUMER PREFERENCES IN RHODE ISLAND (2012, methodology): “The theoretical construct used to put an economic interpretation on results from conjoint analysis is to base it upon Lancaster’s approach to consumer theory (Lancaster, 1966).”
Economic valuation of cultural heritage sites: A choice modeling approach (2010, methodology): “The CM technique is based on the ‘characteristic theory of value’ (Lancaster, 1966), in which a good is viewed as being a bundle of component attributes and their levels.”
Performance of Store Brands: A Cross-Country Analysis of Consumer Store-Brand Preferences, Perceptions, and Risk (2004, background): “Both psychologists (Fishbein 1967) and economists (Lancaster 1966) suggest that consumers perceive products as having several attributes.”
Spillover Effects of Foreclosures on Neighborhood Property Values (2009, methodology): “We use a standard hedonic price equation ( Lancaster 1966; Rosen 1974) as the price equation, defined as,”
Tourist preferences for ecotourism in rural communities adjacent to Kruger National Park: A choice experiment approach (2012, background): “…background of the choice modeling approach Microeconomic foundations for choice models derive from Lancasterian consumer theory (Lancaster, 1966) which postulates that a consumer derives utility not from the good itself but from attributes of the good that cannot be purchased…”
The Definition and Identification of Housing Submarkets (2001, unknown): “Following Lancaster's (1966) assertion that housing is not demanded for itself per se, but for the attributes embodied within each housing unit, we can conclude, as Maclennan et al (1987) do, that the housing stock is subdivided into distinct `product groups'.”
A Practitioner's Guide to Estimation of Random‐Coefficients Logit Models of Demand (2000, background): “4. A related literature is the characteristics approach to demand, or the address approach ( Lancaster, 1966, 1971; Quandt, 1968; Rosen, 1974).”