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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

The Dynamics of Car Sales : A Discrete Choice Approach

Adda, Jerome - 2006

Mankiw [1982] explores the Permanent Income Hypothesis implication that durable expenditures follow an ARMA(1,1) representation. He finds that durable expenditures are represented by an AR(1) process which implies that the rate of depreciation of durables, under the PIH model, is 100%. This...

Persistent link: https://www.econbiz.de/10012783955

Misclassification in Binary Choice Models

Meyer, Bruce D. - 2014

While measurement error in the dependent variable does not lead to bias in some well-known cases, with a binary dependent variable the bias can be pronounced. In binary choice, Hausman, Abrevaya and Scott-Morton (1998) show that the marginal effects in the observed data differ from the true ones...

Persistent link: https://www.econbiz.de/10013047031

Discrete Choice with Social Interactions I : Theory

Brock, William A.; Durlauf, Steven N. - 2021

This paper provides an analysis of aggregate behavioral outcomes when individual utility exhibits social interaction effects. We study generalized logistic models of individual choice which incorporate terms reflecting the desire of individuals to conform to the behavior of others in an...

Persistent link: https://www.econbiz.de/10013310797

Do Discrete Choice Approaches to Valuing Urban Amenities Yield Different Results than Hedonic Models?

Sinha, Paramita - 2018

Amenities that vary across cities are typically valued using either a hedonic model, in which amenities are capitalized into wages and housing prices, or a discrete model of household location choice. In this paper, we use the 2000 Public Use Microdata Sample (PUMS) to value climate amenities...

Persistent link: https://www.econbiz.de/10012919134

Migration and Hedonic Valuation : The Case of Air Quality

Bayer, Patrick J.; Keohane, Nathaniel O.; Timmins, … - 2021

Conventional hedonic techniques for estimating the value of local amenities rely on the assumption that households move freely among locations. We show that when moving is costly, the variation in housing prices and wages across locations may no longer reflect the value of differences in local...

Persistent link: https://www.econbiz.de/10013249384

An Empirical Model of the Medical Match

Agarwal, Nikhil - 2014

This paper develops a framework for estimating preferences in two-sided matching markets with non-transferable utility using only data on observed matches. Unlike single-agent choices, matches depend on the preferences of other agents in the market. I use pairwise stability together with a...

Persistent link: https://www.econbiz.de/10013039765

The Effect of Malpractice Law on Physician Supply : Evidence from Negligence-Standard Reforms

Frakes, Michael - 2017

physicians under medical liability rules. We theorize that physicians of particular backgrounds will be attracted to regions when … prediction, we rely on a quasi-experiment made possible by states shifting from local to national customs as the basis for … Resource File from 1977 to 2005, we find that the rate of surgeons among practicing physicians increases by 2-2.4 log points …

Persistent link: https://www.econbiz.de/10012955447

Using Elicited Choice Probabilities to Estimate Random Utility Models : Preferences for Electricity Reliability

Blass, Asher - 2010

When data on actual choices are not available, researchers studying preferences sometimes pose choice scenarios and ask respondents to state the actions they would choose if they were to face these scenarios. The data on stated choices are then used to estimate random utility models, as if they...

Persistent link: https://www.econbiz.de/10012758244

Demand Heterogeneity in Insurance Markets : Implications for Equity and Efficiency

Geruso, Michael - 2016

In many markets insurers are barred from price discrimination based on consumer characteristics like age, gender, and medical history. In this paper, I build on a recent literature to show why such policies are inefficient if consumers differ in their willingness-to-pay for insurance conditional...

Persistent link: https://www.econbiz.de/10012986292

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