Table 2 Results of the GMNL models for...

Table 2

Results of the GMNL models for each model specification

	Model 1		Model 2		Model 3
	Coeff.	SE	Coeff.	SE	Coeff.	SE
Random parameters in utility functions
Organic label	1.95***	0.25	0.36	0.24	0.76*	0.31
Fair Labor label	1.63***	0.18	0.41	0.21	0.69*	0.28
Recycled glass bottle	1.15***	0.14	0.31	0.18	0.48*	0.21
Wine Spectator score	0.93***	0.13	0.57***	0.21	0.26*	0.12
Price	−0.42***	0.06	−0.35***	0.02	−0.31*	0.12
Nonrandom parameters in utility functions
No buy	−5.56***	0.34	−5.52***	0.17	−4.28***	0.11
CFC-Future × Organic label			0.36***	0.08
CFC-Future × Fair Labor label			0.29***	0.07
CFC-Future × Recycled glass bottle			0.14*	0.06
CFC-Future × Wine Spectator score			0.17***	0.06
CFC-Immediate × Organic label			−0.12	0.09
CFC-Immediate × Fair Labor label			−0.12	0.07
CFC-Immediate × Recycled glass bottle			0.00	0.06
CFC-Immediate × Wine Spectator score			−0.15*	0.06
Standard deviations
Organic label	2.18***	0.24	1.62***	0.15	2.96	2.13
Fair Labor label	1.70***	0.19	1.31***	0.13	8.77***	1.09
Recycled glass bottle	0.79***	0.21	0.66***	0.17	0.80	1.78
Wine Spectator score	1.21***	0.20	1.05***	0.12	10.93***	0.92
Price	0.42***	0.06	0.35***	0.02	0.31*	0.12
τ-scale variance	0.76***	0.07	0.73***	0.05	1.19***	0.08
θ-scale correction factor
CFC – Future					0.10	0.10
CFC – Immediate					−0.23***	0.08
Model characteristics
Log-likelihood function	−3101.134		−3090.52		−3360.23
McFadden's pseudo R²	0.29		0.30		0.24
AIC	6224.27		6219.05		6746.46
BIC	6293.50		6338.64		6828.29

	Model 1		Model 2		Model 3
	Coeff.	SE	Coeff.	SE	Coeff.	SE
Random parameters in utility functions
Organic label	1.95***	0.25	0.36	0.24	0.76*	0.31
Fair Labor label	1.63***	0.18	0.41	0.21	0.69*	0.28
Recycled glass bottle	1.15***	0.14	0.31	0.18	0.48*	0.21
Wine Spectator score	0.93***	0.13	0.57***	0.21	0.26*	0.12
Price	−0.42***	0.06	−0.35***	0.02	−0.31*	0.12
Nonrandom parameters in utility functions
No buy	−5.56***	0.34	−5.52***	0.17	−4.28***	0.11
CFC-Future × Organic label			0.36***	0.08
CFC-Future × Fair Labor label			0.29***	0.07
CFC-Future × Recycled glass bottle			0.14*	0.06
CFC-Future × Wine Spectator score			0.17***	0.06
CFC-Immediate × Organic label			−0.12	0.09
CFC-Immediate × Fair Labor label			−0.12	0.07
CFC-Immediate × Recycled glass bottle			0.00	0.06
CFC-Immediate × Wine Spectator score			−0.15*	0.06
Standard deviations
Organic label	2.18***	0.24	1.62***	0.15	2.96	2.13
Fair Labor label	1.70***	0.19	1.31***	0.13	8.77***	1.09
Recycled glass bottle	0.79***	0.21	0.66***	0.17	0.80	1.78
Wine Spectator score	1.21***	0.20	1.05***	0.12	10.93***	0.92
Price	0.42***	0.06	0.35***	0.02	0.31*	0.12
τ-scale variance	0.76***	0.07	0.73***	0.05	1.19***	0.08
θ-scale correction factor
CFC – Future					0.10	0.10
CFC – Immediate					−0.23***	0.08
Model characteristics
Log-likelihood function	−3101.134		−3090.52		−3360.23
McFadden's pseudo R²	0.29		0.30		0.24
AIC	6224.27		6219.05		6746.46
BIC	6293.50		6338.64		6828.29

Note(s): *p < 0.05 **p < 0.01 ***p < 0.001. Coeff.: Coefficient; SE: Standard error; AIC: Akaiki Information Criteria; BIC: Bayesian Information Criteria

Source(s): Authors’ own work

[ViewLarge]

Sharing Unavailable