Huo, Jinghai; Dua, Rubal; Bansal, Prateek - 2023
Since the seminal work by Berry-Levinsohn-Pakes (BLP), random coefficient logit (RCL) has become the workhorse model to estimate demand elasticities in markets with differentiated products using aggregated sales data. While the ability to represent flexible substitution patterns makes RCL a...