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properties of the dynamic game estimators. An empirical application to the dynamic demand of the potato chip market shows that … this technique can provide a useful tool to distinguish long term demand from short term demand by heterogeneous consumers …
Persistent link: https://www.econbiz.de/10012457541
We develop an estimator for the parameters of a utility function that has interactions between the unobserved demand … contraction can still be used to recover the mean utility term that now contains both the demand error and the interactions with … and we show together they are sufficient for identification of all of the demand parameters. A major advantage of our …
Persistent link: https://www.econbiz.de/10012461763
A recent literature considers the identification of heterogeneous demand and supply models via "quasi … demand when one has "micro data'' linking characteristics of individual consumers to their choices. Micro data provide a … panel structure allowing one to exploit variation across consumers within each market, where latent demand shocks are fixed …
Persistent link: https://www.econbiz.de/10012481252
feature parallel demand curves. Specifically, we show that in random utility models, inverse aggregate demand curves shift in …
Persistent link: https://www.econbiz.de/10012481632
discrete choice models of demand compared to simpler alternatives. In 2013, Boston Public Schools (BPS) proposed alternative …. Pathak and Shi (2013) estimated discrete choice models of demand using families' historical choices and these demand models … of discrete choice models of demand in our context …
Persistent link: https://www.econbiz.de/10012458802
We study the estimation of substitution patterns within the discrete choice framework developed by Berry (1994) and Berry, Levinsohn, and Pakes (1995). Our objective, is to illustrate the consequences of using weak instruments in this non-linear GMM context, and propose a new class of...
Persistent link: https://www.econbiz.de/10012480320
limitations: dynamic demand for durable goods, agricultural land use change, technology adoption, and dynamic labor supply. We …
Persistent link: https://www.econbiz.de/10012480786
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
This paper develops a dynamic model of retail competition and uses it to study the impact of the expansion of a new national competitor on the structure of urban markets. In order to accommodate substantial heterogeneity (both observed and unobserved) across agents and markets, the paper first...
Persistent link: https://www.econbiz.de/10012460211
Demand elasticities and other features of demand are critical determinants of the answers to most positive and … normative questions about market power or the functioning of markets in practice. As a result, reliable demand estimation is an … discussion of some foundational issues in demand estimation. We focus on the distinctive challenges of demand estimation and …
Persistent link: https://www.econbiz.de/10012629525