TY - JOUR
T1 - Heterogeneity in willingness-to-pay for theatre productions
T2 - Individual specific willingness-to-pay estimates for theatres, shows and their attributes
AU - Grisolia, Jose M.
AU - Willis, Ken
N1 - Copyright:
Copyright 2011 Elsevier B.V., All rights reserved.
PY - 2011/7
Y1 - 2011/7
N2 - This paper investigates people's preferences for live theatre, and heterogeneity in willingness-to-pay (WTP). A stated preference discrete choice model estimates utility and WTP for different attributes of theatre productions. Previous studies assumed fixed coefficients across all theatre-goers. This study allows coefficients of attributes to vary across individuals in the population, providing information on the heterogeneity of tastes. Theatre-goers' choices are used to estimate individual-based parameters for a person's tastes in theatre productions. The analysis reveals the heterogeneity of tastes for different types of plays and ticket price; and the significance of 'reviews' by critics and 'word of mouth' opinions as important variables determining choice.
AB - This paper investigates people's preferences for live theatre, and heterogeneity in willingness-to-pay (WTP). A stated preference discrete choice model estimates utility and WTP for different attributes of theatre productions. Previous studies assumed fixed coefficients across all theatre-goers. This study allows coefficients of attributes to vary across individuals in the population, providing information on the heterogeneity of tastes. Theatre-goers' choices are used to estimate individual-based parameters for a person's tastes in theatre productions. The analysis reveals the heterogeneity of tastes for different types of plays and ticket price; and the significance of 'reviews' by critics and 'word of mouth' opinions as important variables determining choice.
UR - http://www.scopus.com/inward/record.url?scp=79954998557&partnerID=8YFLogxK
U2 - 10.1111/j.1467-9485.2011.00551.x
DO - 10.1111/j.1467-9485.2011.00551.x
M3 - Article
AN - SCOPUS:79954998557
SN - 0036-9292
VL - 58
SP - 378
EP - 395
JO - Scottish Journal of Political Economy
JF - Scottish Journal of Political Economy
IS - 3
ER -