Consumers' Preferences and Willingness-to-Pay for Cowpea Varieties using Three Econometrics Estimation Methods

Abstract

Several estimation methods have been used to determine market share and consumer willingness to pay for various attributes of a given product. Our objective in this paper was to determine consumers' preferences and willingness to pay for cowpea attributes and varieties across estimation methods. Results indicate market share and willingness to pay prediction under both classical and Bayesian approaches were quite similar.