Showing 1 - 10 of 23
We extend the Berry, Levinsohn and Pakes (BLP, 1995) random coefficients discretechoice demand model, which underlies much recent empirical work in IO. We add interactive fixed effects in the form of a factor structure on the unobserved product characteristics. The interactive fixed effects can...
Persistent link: https://www.econbiz.de/10009521645
We extend the Berry, Levinsohn and Pakes (BLP, 1995) random coefficients discrete choice demand model, which underlies much recent empirical work in IO. We add interactive fixed effects in the form of a factor structure on the unobserved product characteristics. The interactive fixed effects can...
Persistent link: https://www.econbiz.de/10010345243
Persistent link: https://www.econbiz.de/10013165928
We propose using cyclic monotonicity, a convex-analytic property of the random utility choice model, to derive bounds on counterfactual choice probabilities in semiparametric multinomial choice models. These bounds are useful for typical counterfactual exercises in aggregate discrete-choice...
Persistent link: https://www.econbiz.de/10012951438
We show how to construct bounds on counterfactual choice probabilities in semiparametric discrete-choice models. Our procedure is based on cyclic monotonicity, a convex-analytic property of the random utility discrete-choice model. These bounds are useful for typical counterfactual exercises in...
Persistent link: https://www.econbiz.de/10012955083
This paper proposes a new semi-parametric identification and estimation approach to multinomial choice models in a panel data setting with individual fixed effects. Our approach is based on cyclic monotonicity, which is a defining convex-analytic feature of the random utility framework...
Persistent link: https://www.econbiz.de/10012936363
We introduce the BLP-LASSO model, which augments the classic BLP (Berry, Levinsohn, and Pakes, 1995) random-coefficients logit model to allow for data-driven selection among a high- dimensional set of control variables. Economists often study consumers' aggregate behavior across markets choosing...
Persistent link: https://www.econbiz.de/10012936682
We consider the estimation of dynamic binary choice models in a semiparametric setting, in which the per-period utility functions are known up to a finite number of parameters, but the distribution of utility shocks is left unspecified. This semiparametric setup differs from most of the existing...
Persistent link: https://www.econbiz.de/10012871654
We introduce sparse random projection, an important tool from machine learning, for the estimation of discrete-choice models with high-dimensional choice sets. First, the high-dimensional data are compressed into a lower-dimensional Euclidean space using random projections. In the second step,...
Persistent link: https://www.econbiz.de/10012969764
Using results from convex analysis, we investigate a novel approach to identification and estimation of discrete choice models which we call the “Mass Transport Approach” (MTA). We show that the conditional choice probabilities and the choice specific payoffs in these models are related in...
Persistent link: https://www.econbiz.de/10013002752