Consumersʼ Preferences of the Quality and Price of Personal Services
基于个人调查数据，研究消费者对个人服务质量和价格的偏好，发现消费者感知服务质量提升，但支付意愿异质性大，且服务需求跨期替代的价格弹性较大。
This study uses original survey data from individuals and presents evidence regarding consumersʼ preferences of the quality and price of personal services. The results indicate that consumers perceive the quality of market services to be improved, suggesting that the real productivity growth rate of the service sector is underestimated. Although the willingness to pay for high quality services is confirmed, the amount is quite heterogeneous among individuals, which cannot be explained by observable characteristics such as age and income. The price elasticity of the inter-temporal substitution of service demand is relatively large, suggesting that there is a possibility of smoothening service-demand by utilizing a price-setting strategy. Substitutability between market services and household production differs according to individual services.