Demand Models for Differentiated Products with Complementarity and Substitutability

Publikation: Working paper › Forskning

Standard

Demand Models for Differentiated Products with Complementarity and Substitutability. / Fosgerau, Mogens; de Palma, André; Monardo, Julien.

2018.

Publikation: Working paper › Forskning

Harvard

Fosgerau, M, de Palma, A & Monardo, J 2018 'Demand Models for Differentiated Products with Complementarity and Substitutability'. https://doi.org/10.2139/ssrn.3141041

APA

Fosgerau, M., de Palma, A., & Monardo, J. (2018). Demand Models for Differentiated Products with Complementarity and Substitutability. University of Copenhagen. Institute of Economics. Discussion Papers (Online) Nr. 18-02 https://doi.org/10.2139/ssrn.3141041

Vancouver

Fosgerau M, de Palma A, Monardo J. Demand Models for Differentiated Products with Complementarity and Substitutability. 2018 apr. 30. https://doi.org/10.2139/ssrn.3141041

Author

Fosgerau, Mogens ; de Palma, André ; Monardo, Julien. / Demand Models for Differentiated Products with Complementarity and Substitutability. 2018. (University of Copenhagen. Institute of Economics. Discussion Papers (Online); Nr. 18-02).

Bibtex

@techreport{62d13cdbffec421ea0ec9bee377d21bc,
title = "Demand Models for Differentiated Products with Complementarity and Substitutability",
abstract = "We develop a class of demand models for differentiated products. The new models facilitate the BLP method (Berry et al. 1995) by avoiding numerical inversion of the demand system. They accommodate rich patterns of substitution and complementarity while being easily estimated with standard regression techniques and allowing very large choice sets. We use the new models to describe markets for differentiated products that exhibit segmentation along several dimensions and illustrate their application by estimating the demand for cereals in Chicago.",
keywords = "Demand estimation, Differentiated products, Discrete choice, Generalized entropy, Representative consumer",
author = "Mogens Fosgerau and {de Palma}, Andr{\'e} and Julien Monardo",
year = "2018",
month = apr,
day = "30",
doi = "10.2139/ssrn.3141041",
language = "English",
series = "University of Copenhagen. Institute of Economics. Discussion Papers (Online)",
number = "18-02",
type = "WorkingPaper",

}

RIS

TY - UNPB

T1 - Demand Models for Differentiated Products with Complementarity and Substitutability

AU - Fosgerau, Mogens

AU - de Palma, André

AU - Monardo, Julien

PY - 2018/4/30

Y1 - 2018/4/30

N2 - We develop a class of demand models for differentiated products. The new models facilitate the BLP method (Berry et al. 1995) by avoiding numerical inversion of the demand system. They accommodate rich patterns of substitution and complementarity while being easily estimated with standard regression techniques and allowing very large choice sets. We use the new models to describe markets for differentiated products that exhibit segmentation along several dimensions and illustrate their application by estimating the demand for cereals in Chicago.

AB - We develop a class of demand models for differentiated products. The new models facilitate the BLP method (Berry et al. 1995) by avoiding numerical inversion of the demand system. They accommodate rich patterns of substitution and complementarity while being easily estimated with standard regression techniques and allowing very large choice sets. We use the new models to describe markets for differentiated products that exhibit segmentation along several dimensions and illustrate their application by estimating the demand for cereals in Chicago.

KW - Demand estimation

KW - Differentiated products

KW - Discrete choice

KW - Generalized entropy

KW - Representative consumer

U2 - 10.2139/ssrn.3141041

DO - 10.2139/ssrn.3141041

M3 - Working paper

T3 - University of Copenhagen. Institute of Economics. Discussion Papers (Online)

BT - Demand Models for Differentiated Products with Complementarity and Substitutability

ER -

ID: 214649137