, nonseparable heterogeneity and solve the "zeros problem" of demand by including zeros in the estimation. We also use panel data to … correct for the ridge regularization. We find that panel estimates of price elasticities are much smaller than cross section …From its inception, demand estimation has faced the problem of "many prices." While some aggregation across goods is …

Médoc , Graves and St Emilion as well as the most renowned wines of Pomerol in a panel data setting. The application of a … two-way fixed effects regression model to data of the vintages 1995 to 2000 of 121 wines leads to the following … increase is estimated to lead to a 6-7% price increase. This "only" partial price influence of Parker is confirmed by comparing …