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Improving the Quality of Choices in Health Insurance Markets
Abaluck, Jason - 2016
Insurance product choice is a central feature of health insurance markets in the United States, yet there is ongoing concern over whether consumers choose appropriately in such markets – and little evidence on solutions to any choice inconsistencies. This paper addresses these omissions from...
Persistent link: https://www.econbiz.de/10012977629
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On the Welfare Costs of Consumption Uncertainty
Barro, Robert J. - 2007
Satisfactory calculations of the welfare cost of aggregate consumption uncertainty require a framework that replicates major features of asset prices and returns, such as the high equity premium and low risk-free rate. A Lucas-tree model with rare but large disasters is such a framework. In a...
Persistent link: https://www.econbiz.de/10012778120
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Durable Goods and Conformity
House, Christopher L.; Ozdenoren, Emre - 2021
Is the variety of products supplied in markets a reflection of the diversity of consumers' preferences? In this paper, we argue that the distribution of durable goods offered in markets tends to be compressed relative to the distribution of consumers' underlying preferences. In particular, there...
Persistent link: https://www.econbiz.de/10013228053
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The Evolution of Brand Preferences : Evidence from Consumer Migration
Bronnenberg, Bart J. - 2010
We study the long-run evolution of brand preferences, using new data on consumers' life histories and purchases of … advertising. Heterogeneity in brand preferences explains 40 percent of geographic variation in market shares. These preferences … years in the past still exerting a significant effect on current consumption. Counterfactuals suggest that brand preferences …
Persistent link: https://www.econbiz.de/10013139281
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The New Science of Pleasure
McFadden, Daniel L. - 2013
Economists since the days of Adam Smith and Jeremy Bentham have traditionally viewed consumers as driven by relentless and consistent pursuit of self-interest, with their choices in the marketplace providing all the measurements needed to reveal their preferences and assess their well-being....
Persistent link: https://www.econbiz.de/10013088687
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Improving the Numerical Performance of Blp Static and Dynamic Discrete Choice Random Coefficients Demand Estimation
Dubé, Jean-Pierre - 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/10013159520
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Microeconometric Models of Consumer Demand
Dubé, Jean-Pierre - 2018
individualized welfare analysis. A descriptive analysis of a broad, CPG database indicates that most consumer brand categories offer …
Persistent link: https://www.econbiz.de/10012908476
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The Rise of Niche Consumption
Neiman, Brent - 2019
products are available, households select products better matched to their tastes. This delivers welfare gains from selection …
Persistent link: https://www.econbiz.de/10012865267
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Consumption and Government-Budget Finance in a High-Deficit Economy
Leiderman, Leonardo; Razin, Assaf - 2021
This paper characterizes empirically how government budget variables, such as spending, taxes, and deficits, affected private-sector consumption in the high-budget-deficit economy of Israel during the first half of the 1980s. The paper develops and estimates an intertemporal optimizing model of...
Persistent link: https://www.econbiz.de/10013218734
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Rational Addictive Behavior and Cigarette Smoking
Chaloupka, Frank J. - 2021
After a discussion of cigarette smoking in the context of the Becker-Murphy (1988) model of rational addictive behavior, demand equations are derived accounting for the tolerance, reinforcement, and withdrawal characteristic of addictive consumption. These are contrasted to equations developed...
Persistent link: https://www.econbiz.de/10013224693