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We develop simple tests for endogenous prices arising from omitted demand factors in discrete choice models. Our approach only requires one to locate testing proxies that have some correlation with the omitted factors when prices are endogenous. We use the difference between prices and their...
Persistent link: https://www.econbiz.de/10013082430
We develop an estimator for the parameters of a utility function that has interactions between the unobserved demand error and observed factors including price. We show that the Berry (1994)/Berry, Levinsohn, and Pakes (1995) inversion and contraction can still be used to recover the mean...
Persistent link: https://www.econbiz.de/10013128265
Persistent link: https://www.econbiz.de/10009745322
Persistent link: https://www.econbiz.de/10010409218
Persistent link: https://www.econbiz.de/10011864984
We study the nonparametric identification of distributions of utility functions in a multiple purchase setting with a finite number of consumers. Each utility function takes as arguments subsets or, alternatively, quantities of the multiple goods. We exploit mathematical insights from auction...
Persistent link: https://www.econbiz.de/10013098024
We develop simple tests for endogenous prices arising from omitted demand factors in discrete choice models. Our approach only requires one to locate testing proxies that have some correlation with the omitted factors when prices are endogenous. We use the difference between prices and their...
Persistent link: https://www.econbiz.de/10012459651
We develop an estimator for the parameters of a utility function that has interactions between the unobserved demand error and observed factors including price. We show that the Berry (1994)/Berry, Levinsohn, and Pakes (1995) inversion and contraction can still be used to recover the mean...
Persistent link: https://www.econbiz.de/10012461763