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The Influence of Other Alternatives on Consumer Choice

In this paper, we test the existence of the direct influence of other available alternatives on the consumer's utility. By using the dataset from the specially designed experiment on individuals' choices of red wines we show that characteristics of other products in the choice set directly affect a consumer's utility of the product. We introduce choice set effects to the empirical demand model and show that it plays an important role in the widely used approach of employing rival products' characteristics as instruments to overcome the price endogeneity problem in demand estimation. The obtained results show that the exclusion condition is not satisfied for some of the rival products' characteristics, but is satisfied for other rival products' characteristics. The experimental design described in this paper can be used to improve the instrumental variables estimation of the choice models.