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How Do Firm Financial Conditions Affect Product Quality and Pricing?

Phillips, Gordon M. - 2011

airline industry. We consider an airline's choices of quality and price as dynamic decisions that trade off current cash flows … for future revenue. We examine how airline mishandled baggage, on-time performance and pricing are related to financial … distress and bankruptcy, controlling for the endogeneity of financial distress and bankruptcy. We find that an airline …

Persistent link: https://www.econbiz.de/10012461424

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

Migration and Hedonic Valuation : The Case of Air Quality

Bayer, Patrick - 2006

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/10012466562

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/10012453424

How Undervalued is the Covid-19 Vaccine? Evidence from Discrete Choice Experiments and VSL Benchmarks

Carlin, Patrick; Dixon, Brian E.; Simon, Kosali Ilayperuma - National Bureau of Economic Research - 2022

Two discrete choice experiments conducted early in the Covid-19 vaccination campaign show that people dramatically undervalue the Covid-19 vaccine, relative to benchmarks implied by the value of a statistical life (VSL). Our first experiment found that median willingness to pay (WTP) for initial...

Persistent link: https://www.econbiz.de/10013334337

Does The Market Reward Quality? : Evidence from India

Wagner, Zachary - 2019

There are two salient facts about health care in low and middle-income countries; 1) the private sector plays an important role and 2) the care provided is often of poor quality. Despite these facts we know little about what drives quality of care in the private sector and why patients continue...

Persistent link: https://www.econbiz.de/10012480403

Measuring Quality Effects in Equilibrium

Richards-Shubik, Seth; Roberts, Mark S.; Donohue, Julie M. - National Bureau of Economic Research - 2021

Unlike demand studies in other industries, models of provider demand in health care often must omit a price or any other factor that equilibrates the market. Estimates of the consumer response to quality may consequently be attenuated, if the limited capacity of individual providers prevents...

Persistent link: https://www.econbiz.de/10012533366

Competition and Quality : Evidence from High-Speed Railways and Airlines

Fang, Hanming - 2020

The entry of High-Speed Railways (HSR) represents a disruptive competition to airlines, particularly for short- to … entry on the quality of service provided by airlines as proxied by their on-time performance, and to identify the channels … of HSR leads to significant reductions in the mean and variance of travel delays on the affected airline routes. Second …

Persistent link: https://www.econbiz.de/10012481330

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

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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