Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market

In this paper we provide an algorithm for estimating characteristic based demand models from alternative data sources, and apply it to new data on the market for passenger vehicles. We find that, provided care is taken in constructing the demand system and rich enough data are available, the characteristic based model can both rationalize existing results and provide realistic out of sample predictions.

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Year of publication:	2001-11
Authors:	Berry, Steven ; Levinsohn, James ; Pakes, Ariel
Institutions:	Cowles Foundation for Research in Economics, Yale University
Subject:	Product Differentiation \| Autos \| Demand Estimation

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in Journal of Political Economy (2004), 112(1): 68-104 The price is None Number 1337 35 pages
Classification:	D43 - Oligopoly and Other Forms of Market Imperfection
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005593311