This paper presents an empirical study of spatial competition and a methodological approach to estimating product characteristics and consumer preferences in industries with products whose characteristics are unobservable or difficult to measure.We demonstrate the effective use of panel data on...

This paper presents an empirical study of spatial competition and a methodological approach to estimating product characteristics and consumer preferences in industries with products whose characteristics are unobservable or difficult to measure.We demonstrate the effective use of panel data on...

This paper demonstrates that the utilization of information that is available ex-post but unavailable ex-ante may lead to adverse incentive effects in the design of new products, i.e., in installing safety devices in products, in developing technologies that reduce the distribution of risks...