The random parameters logit model for aggregate data introduced by Berry, Levinsohn, and Pakes (1995) has been a driving force in empirical industrial organization for more than a decade. While these models are identified in theory, identification problems often occur in practice. In this paper...

We study consumer use of two short-term credit products offered by banks: overdraft and deposit advance. On average, consumers who use overdraft pay 13 percent of their monthly deposits to cover fees; consumers who use deposit advance pay less than 2 percent. Data averages show that fees grow...

Conventional wisdom argues that all commercial and economic competition between two daily newspapers stops when they merge their advertising and printing capabilities to form a joint operating agreement (JOA). Clearly the JOA acts a monopolist in the sale of advertising, but there are two forces...

In this paper we offer the Gibbs sampler as an alternative to the GMM estimator developed by Berry, Levinsohn, and Pakes (1995) in their equilibrium differentiated product market analysis of the automobile industry. We use the GMM objective as the basis for forming a posterior distribution,...

Debt collection is an important part of the consumer credit ecosystem, but has received little attention in the economics literature. Regulations on collection practices can protect consumers, but may also lead to unintended consequences if the costs of better practices are passed on to...