In this paper, we examine the impact of horizontal and vertical market structure on product variety. We consider a market for horizontally differentiated products in which the cost of launching a new product is fixed and spread between the manufacturing and the retail industries. While this...

We propose a Bayesian Metropolis-Gibbs Monte Carlo Markov Chain (MCMC) algorithm to estimate parameters of a sample selection model in which the selected equation include a binary endogenous explanatory variable, using a three simultaneous equation model. We apply our methodology to...

Exploiting a unique and original dataset of 11,945 payments made from March to May 2005, the paper estimates the determinants of the probability of a transaction being paid by cash, check or bank card at the point of sale. Controlling for individual characteristics, the main results of the paper...