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Empirical Models of Demand and Supply in Differentiated Products Industries
Gandhi, Amit; Nevo, Aviv - National Bureau of Economic Research - 2021
This is an invited chapter for the forthcoming Volume 4 of the Handbook of Industrial Organization. We present empirical models of demand and supply in differentiated products industries with an emphasis on the key ideas arising from the recent applied literature. We start with a discussion of...
Persistent link: https://www.econbiz.de/10012629477
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Intangible Marketing Capital
Bronnenberg, Bart J.; Dubé, Jean-Pierre H.; Syverson, Chad - National Bureau of Economic Research - 2022
private value of brands to firms and aggregate intangible brand capital stocks created by these investments. These investments … include the creation and maintenance of a brand name and all its corresponding brand elements (e.g., awareness, reputation … outlays. Finally, we explore the welfare implications of investments in brand capital …
Persistent link: https://www.econbiz.de/10013334364
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Brand Names Before the Industrial Revolution
Richardson, Gary - 2008
. Conspicuous characteristics fulfilled many of the functions that patents, trademarks, and brand names do today. The words that … referred to products with conspicuous characteristics served as brand names in the Middle Ages. Data drawn from an array of …
Persistent link: https://www.econbiz.de/10012464717
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Incorporating Search and Sales Information in Demand Estimation
Hortaçsu, Ali; Natan, Olivia R.; Parsley, Hayden; … - National Bureau of Economic Research - 2021
We propose an approach to modeling and estimating discrete choice demand that allows for a large number of zero sale observations, rich unobserved heterogeneity, and endogenous prices. We do so by modeling small market sizes through Poisson arrivals. Each of these arriving consumers then solves...
Persistent link: https://www.econbiz.de/10012794558
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A Method to Estimate Discrete Choice Models that is Robust to Consumer Search
Abaluck, Jason - 2020
We state a sufficient condition under which choice data alone suffices to identify consumer preferences when choices are not fully informed. Suppose that: (i) the data generating process is a search model in which the attribute hidden to consumers is observed by the econometrician; (ii) if a...
Persistent link: https://www.econbiz.de/10012482030
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Empirical Models of Consumer Behavior
Nevo, Aviv - 2010
Models of consumer behavior play a key role in modern empirical Industrial Organization. In this paper, I survey some of the models used in this literature. In particular, I discuss two commonly used demand systems: multi-stage budgeting approaches and discrete choice models. I motivate their...
Persistent link: https://www.econbiz.de/10012462147
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Nonparametric Identification of Multinomial Choice Demand Models with Heterogeneous Consumers
Berry, Steven T. - 2009
We consider identification of nonparametric random utility models of multinomial choice using "micro data," i.e., observation of the characteristics and choices of individual consumers. Our model of preferences nests random coefficients discrete choice models widely used in practice with...
Persistent link: https://www.econbiz.de/10012463375
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Improving the Numerical Performance of BLP Static and Dynamic Discrete Choice Random Coefficients Demand Estimation
Dubé, Jean-Pierre H. - 2009
The widely-used estimator of Berry, Levinsohn and Pakes (1995) produces estimates of consumer preferences from a discrete-choice demand model with random coefficients, market-level demand shocks and endogenous prices. We derive numerical theory results characterizing the properties of the nested...
Persistent link: https://www.econbiz.de/10012463658
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Vehicle Choices, Miles Driven, and Pollution Policies
Feng, Ye - 2005
A nested logit structure is used to model discrete choices among different vehicle bundles. We also consider continuous choices of miles driven and the age of each vehicle. We propose a consistent estimation method for both discrete and continuous demands in one step, to capture the interactive...
Persistent link: https://www.econbiz.de/10012467125
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Environmental Benefits from Driving Electric Vehicles?
Holland, Stephen P. - 2015
Electric vehicles offer the promise of reduced environmental externalities relative to their gasoline counterparts. We combine a theoretical discrete-choice model of new vehicle purchases, an econometric analysis of the marginal emissions from electricity, and the AP2 air pollution model to...
Persistent link: https://www.econbiz.de/10012457376