Showing 1 - 10 of 110
We provide a general framework for incorporating many types of micro data from summary statistics to full surveys of selected consumers into Berry, Levinsohn, and Pakes (1995)-style estimates of differentiated products demand systems. We extend best practices for BLP estimation in Conlon and...
Persistent link: https://www.econbiz.de/10014337838
due to information and willingness to pay for information. We compare two behavioral interventions to address consumer …
Persistent link: https://www.econbiz.de/10014372499
consumers have similar preferences to the principal, and those where consumer preferences diverge from those of the principal …. In the former case, allowing consumer feedback improves allocations, and increasing consumer information is unambiguously …
Persistent link: https://www.econbiz.de/10012470274
We study the effects of consumer information on equlibrium market prices and observable product quality in the market … effects of information provision in a model of vertical differentiation. We show conditions in which increased consumer …
Persistent link: https://www.econbiz.de/10012472309
In this paper, we exploit new sources of cross-sectional data to estimate a detailed product-level demand system for new passenger vehicles. We use four data sources: on the characteristics of products, on the attributes of the U.S. population of households, on the match between the first and...
Persistent link: https://www.econbiz.de/10012472324
This paper uses a field experiment to estimate behavioral parameters from a structural model of residential adoption of technology. As our model includes both economic and psychological factors, we are able to identify the role of prices, social norms, social pressure, and curiosity on the...
Persistent link: https://www.econbiz.de/10012480119
Data is nonrival: a person's location history, medical records, and driving data can be used by any number of firms simultaneously. Nonrivalry leads to increasing returns and implies an important role for market structure and property rights. Who should own data? What restrictions should apply...
Persistent link: https://www.econbiz.de/10012480204
This paper argues that firms have an informational advantage over consumers in selecting arbitrators in consumer … arbitration. We document how the selection process impacts arbitration outcomes by studying roughly 9,000 consumer arbitration …
Persistent link: https://www.econbiz.de/10012480802
We argue that recoveries from demand-driven recessions with expenditure cuts concentrated in services or non-durables will tend to be weaker than recoveries from recessions more biased towards durables. Intuitively, the smaller the bias towards more durable goods, the less the recovery is...
Persistent link: https://www.econbiz.de/10012629524
question of whether increased occupational licensing of mortgage brokers improves consumer outcomes is theoretically ambiguous … consumer market for mortgages. We find that one typical regulation--the requirement in many states that mortgage brokers … and consumer market outcomes. In particular, we find that tighter bonding/net worth requirements are associated with …
Persistent link: https://www.econbiz.de/10012464962