In empirical demand, industrial organization, and labor economics, prices are often unobserved or unobservable since … of prices is known to lead to a number of identi?cation problems. However, in this paper, we show that theory …-consistent demand analysis remains feasible in the presence of partially observed prices, and hence partially observed implied budget …

This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple … model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets … their beliefs following a new demand shock, the younger they are. To test this learning mechanism, we make use of a specific …

It is widely understood that the real price of globally traded commodities is determined by the forces of demand and … supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with …