We shed new light on the performance of Berry, Levinsohn and Pakes' (1995) GMM estimator of the aggregate random coefficient logit model. Based on an extensive Monte Carlo study, we show that the use of Chamberlain's (1987) optimal instruments overcomes most of the problems that have recently...

We shed new light on the performance of Berry, Levinsohn and Pakes? (1995) GMM estimator of the aggregate random coe¢ cient logit model. Based on an extensive Monte Carlo study, we show that the use of Chamberlain?s (1987) optimal instruments overcomes most of the problems that have recently...

We shed new light on the performance of Berry, Levinsohn and Pakes’ (1995) GMM estimator of the aggregate random coefficient logit model. Based on an extensive Monte Carlo study, we show that the use of Chamberlain’s (1987) optimal instruments overcomes most of the problems that have...

Emission standards are one of the major policy tools to reduce greenhouse gas emissions from transportation. The welfare e¤ects from this type of regulation depend on how …firms choose to abate emissions: by changing relative prices, by downsizing their flÂeet or by adopting technology....

We shed new light on the performance of Berry, Levinsohn and Pakes’ (1995) GMM estimator of the aggregate random coefficient logit model. Based on an extensive Monte Carlo study, we show that the use of Chamberlain’s (1987) optimal instruments overcomes many problems that have recently been...

Emission standards are one of the major policy tools to reduce greenhouse gas emissions from transportation. The welfare effects from this type of regulation depend on how ?firms choose to abate emissions: by changing relative prices, by downsizing their fl?eet or by adopting technology. This...

To what extent do car buyers undervalue future fuel costs, and what does this imply for the effectiveness of alternative tax policies? To address both questions, we show it is crucial to account for consumer heterogeneity in mileage and other dimensions. We use detailed product-level data for a...

This paper uses data from the universe of tax returns filed between 2001 and 2010 to test whether parents shift the timing of childbirth around the New Year to gain tax benefits. Filers have an incentive to shift births from early January into late December, through induction or cesarean...

This paper argues that it will often be rational for consumers to pay limited attention to energy efficiency when choosing among energy-consuming durable goods like automobiles or home appliances. The reason is that the proper valuation of energy efficiency requires time and effort, but...

This paper uses data from the universe of tax returns filed between 2001 and 2010 to test whether parents shift the timing of childbirth around the New Year to gain tax benefits. Filers have an incentive to shift births from early January into late December, through induction or cesarean...