A long literature has developed econometric methods for estimating individual-consumer-level demand systems that accommodate corner solutions. The increasing access to transaction-level customer purchase histories across a wide array of markets and industries vastly expands the prospect for...

We consider identification of nonparametric random utility models of multinomial choice using "micro data," i.e., observation of the characteristics and choices of individual consumers. Our model of preferences nests random coefficients discrete choice models widely used in practice with...

People can eat a food without having a strong preference for it, and people can prefer a food without eating it. Given this seeming disconnect between attitude and behavior, which type of measure or segment can best be used to profile or identifi, loyal consumer segments of a food, such as soy?...

Accessing products instead of owning them is becoming increasingly popular. In case of both types of consumption modes being available, consumers face the choice between traditional ownership and access. A better understanding of consumption mode choice is not only an important step towards a...

The standard continuous-time version of discounted utility does not possess the local inter-temporal substitution property (quantities consumed in nearby dates should be close substitutes, not complements), and hence does not define a continuous functional in the space of consumption paths. The...

We study the behaviour of prices and quantities in a model of bilateral trade with coordination frictions, capacity constraints, and risk aversion in small and large markets. The equilibrium markup over the expected return to the asset depends on the ratio of buyers to sellers and the level of...