Showing 1 - 10 of 14
Demand estimates are essential for addressing a wide range of positive and normative questions in economics that are known to depend on the shape-and notably the curvature-of the true demand functions. The existing frontier approaches, while allowing flexible substitution patterns, typically...
Persistent link: https://www.econbiz.de/10013382032
I develop and apply a nonparametric approach to estimate demand in differentiated products markets. Estimating demand flexibly is key to addressing many questions in economics that hinge on the shape - and notably the curvature - of market demand functions. My approach applies to standard...
Persistent link: https://www.econbiz.de/10012925923
We propose a demand estimation method that allows researchers to estimate substitution patterns from unstructured image and text data. We first employ a series of machine learning models to measure product similarity from products' images and textual descriptions. We then estimate a nested logit...
Persistent link: https://www.econbiz.de/10014383684
Persistent link: https://www.econbiz.de/10014371894
We consider the invertibility of a nonparametric nonseparable demand system. Invertibility of demand is important in several contexts, including identification of demand, estimation of demand, testing of revealed preference, and economic theory requiring uniqueness of market clearing prices. We...
Persistent link: https://www.econbiz.de/10009144505
This paper estimates a model of airline competition that captures the two major features of the industry: product differentiation and economies of density. The results not only provide support to some of the traditional common wisdom in the industry, but are also useful for understanding major...
Persistent link: https://www.econbiz.de/10013240526
This paper outlines recently developed techniques for estimating the primitives needed to empirically analyze equilibrium interactions and their implications in oligopolistic markets. It is divided into an introduction and three sections; a section on estimating demand functions, a section on...
Persistent link: https://www.econbiz.de/10014024952
Persistent link: https://www.econbiz.de/10003382909
Persistent link: https://www.econbiz.de/10011419945
This paper estimates a model of airline competition that captures the two major features of the industry: product differentiation and economies of density. The results not only provide support to some of the traditional common wisdom in the industry, but are also useful for understanding major...
Persistent link: https://www.econbiz.de/10012473287