Consumer choice of theatrical productions: a combined revealed preference–stated preference approach

José M. Grisolía, Kenneth G. Willis

Research output: Journal PublicationArticlepeer-review

11 Citations (Scopus)

Abstract

This paper investigates the value of attributes of theatrical productions using a joint revealed preference–stated preference (RP–SP) method. SP models have advantages over RP models, requiring less data and avoiding multicollinearity problems which often confound RP analysis. However, the advantage to joint RP–SP model is that theatre-goers choices are anchored to real behaviour. The RP–SP model reveals the most important determinant of choice and willingness to pay (WTP) to be the type of show. The Royal Shakespeare Company strongly influenced choice and WTP. Reviews of productions by theatre critics influenced choice. A mixed logit model revealed considerable heterogeneity in theatre-goer tastes for types of show and variation in taste for the attributes of shows by socioeconomic and demographic profile of theatre-goers.

Original languageEnglish
Pages (from-to)933-957
Number of pages25
JournalEmpirical Economics
Volume50
Issue number3
DOIs
Publication statusPublished - 1 May 2016
Externally publishedYes

Keywords

  • Mixed logit model
  • Revealed preference–stated preference
  • Theatre

ASJC Scopus subject areas

  • Statistics and Probability
  • Mathematics (miscellaneous)
  • Social Sciences (miscellaneous)
  • Economics and Econometrics

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