This paper uses an original panel dataset with posted prices and sales to estimate a dynamic demand. We find that consumers become more price sensitive as time to departure nears which is consistent with having lower valuations. This result provides empirical support to a key theoretical...

We use high frequency data on TV and radio advertising together with data on online sales for lottery tickets to measure the short run effects of advertising. We find them to be strong and to last for up to about 4 hours. They are the bigger the less time there is until the draw. We develop the...

This paper develops a new approach that combines firm margins, market-level industry data and a static demand model to construct sets containing unbiased estimates of long-run price elasticities for storable good industries. It obviates the need to solve the consumer's value function and can be...