Differentiated products demand systems from a combination of micro and macro data: The new car market

• 成果类型: Article
• 署名作者: Berry, S; Levinsohn, J; Pakes, A
• 署名单位: Yale University; National Bureau of Economic Research; University of Michigan System; University of Michigan; Harvard University
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/379939
• 发表日期: 2004
• 页码: 68-105
• 关键词: probit model; CHOICE

摘要

In this paper, we consider how rich sources of information on consumer choice can help to identify demand parameters in a widely used class of differentiated products demand models. Most important, we show how to use second-choice data on automotive purchases to obtain good estimates of substitution patterns in the automobile industry. We use our estimates to make out-of-sample predictions about important recent changes in industry structure.