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Author: Daniel Toro González
Publisher:
ISBN: 9781267477187
Category :
Languages : en
Pages :
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Book Description
This dissertation consists of three independent but related papers. All of them are devoted to estimate demand functions in presence of unobservable product attributes, such as quality, using different identification strategies. The first two exercises are based on a discrete choice model using the product-market approach developed by Berry (1994) with aggregate data information for gum and beer consumption. The third paper uses a control function approach as an identification strategy in order to estimate the choice model using disaggregated (micro level) data on household choices. These exercises reveal the importance of controlling for price endogeneity due to the existence of unobservable product attributes incorporating substantial bias in the coefficients when ignored.
Author: Daniel Toro González
Publisher:
ISBN: 9781267477187
Category :
Languages : en
Pages :
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Book Description
This dissertation consists of three independent but related papers. All of them are devoted to estimate demand functions in presence of unobservable product attributes, such as quality, using different identification strategies. The first two exercises are based on a discrete choice model using the product-market approach developed by Berry (1994) with aggregate data information for gum and beer consumption. The third paper uses a control function approach as an identification strategy in order to estimate the choice model using disaggregated (micro level) data on household choices. These exercises reveal the importance of controlling for price endogeneity due to the existence of unobservable product attributes incorporating substantial bias in the coefficients when ignored.
Author: Wolfgang Maennig
Publisher:
ISBN: 9783942820554
Category :
Languages : de
Pages :
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Book Description
Author: Vugar Ahmadov
Publisher:
ISBN:
Category : Consumers
Languages : en
Pages : 138
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Book Description
Author: Simon P. Anderson
Publisher: MIT Press
ISBN: 9780262011280
Category : Business & Economics
Languages : en
Pages : 454
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Book Description
"The discrete choice approach provides an ideal framework for describing the demands for differentiated products and can be used for studying most product differentiation models in the literature. By introducing extra dimensions of product heterogeneity, the framework also provides richer models of firm location and product selection."--BOOK JACKET.
Author: Jean-Claude Thill
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The paper provides a general framework for the analysis of noncooperative competition between multi-branch networks when consumers have heterogeneous preferences. This framework allows for ill-studied conditions, such as branch loyalty and economies of scope, to be explored in terms of their role in shaping address solutions and firm profits. Geographic and quality differentiation as well as firm profits are shown to be dependent upon the magnitude of the loyalty factor and upon the extend of economies of scope. Real world situations in the retail industry are interpreted in the light of the results of the analysis.
Author: Anna Vyacheslavovna Yurko
Publisher:
ISBN:
Category : Automobiles
Languages : en
Pages : 212
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Book Description
This dissertation studies the effect of heterogeneity in consumer incomes on outcomes in vertically differentiated markets. When products are differentiated in quality, the consumer's choice of a particular product is a function of her income. Thus, the distribution of incomes plays an important role in shaping the demand for individual products in vertically differentiated markets. The first two chapters of the dissertation study the demand for passenger cars and trucks in the US. These vehicles are differentiated by quality that depends on vehicle's age. The first chapter studies the relationship between the distribution of consumer incomes and the distribution of vehicle vintages using a dynamic, heterogeneous agents model. The model predicts that higher per capita incomes are associated with younger vehicle stocks, if the vehicle ownership rates are high. If the per capita incomes are low, and so are the endogenous vehicle ownership rates, increases in income may lead to the aging of vehicles, by encouraging entry of lower income consumers into vehicle ownership via purchases of older vehicles. Higher levels of income inequality are associated with older vehicle stocks. The second chapter of the dissertation asks whether some of the observed increases in the average age of vehicles in the US can be attributed to the rise in real consumer incomes and the resulting changes in the composition of demand for different vehicle vintages. The dynamic, non-stationary, heterogeneous agents model, estimated on the aggregate vehicle ownership data for the US over the 1967-2001 period, provides a positive answer to this question. The third chapter of the dissertation studies the effect of inequality in consumer incomes on firms' entry, location, and pricing decisions in a static oligopoly model of vertically differentiated products. This paper computes the Nash equilibrium of a three-stage game similar to Shaked and Sutton (1982), to find that greater inequality in consumer incomes leads to the entry of more firms and results in more intense quality competition among the entrants. The consumption inequality is lower and the aggregate consumer welfare is higher in economies with greater income inequality.
Author: Hugh Sibly
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper considers a linear-pricing monopolist that conducts vertical product differentiation. Previous analyses consider customers who either have unit demand or firms who conduct nonlinear pricing. In this paper, customers' opportunity cost of time generates a demand for quality. Customers differ in either their demand, income or taste for quality. Differences in income and taste for quality are sources of vertical differentiation. The presence of quality distortion and the variety that may exhibit it are dependent on the functional form of the customer types' demand.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
We introduce a fully probabilistic framework of consumer product choice based on quality assessment. It allows us to capture many aspects of marketing such as partial information asymmetry, quality differentiation, and product placement in a supermarket.
Author: Deborah J. Street
Publisher: John Wiley & Sons
ISBN: 0470148551
Category : Mathematics
Languages : en
Pages : 344
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Book Description
The most comprehensive and applied discussion of stated choice experiment constructions available The Construction of Optimal Stated Choice Experiments provides an accessible introduction to the construction methods needed to create the best possible designs for use in modeling decision-making. Many aspects of the design of a generic stated choice experiment are independent of its area of application, and until now there has been no single book describing these constructions. This book begins with a brief description of the various areas where stated choice experiments are applicable, including marketing and health economics, transportation, environmental resource economics, and public welfare analysis. The authors focus on recent research results on the construction of optimal and near-optimal choice experiments and conclude with guidelines and insight on how to properly implement these results. Features of the book include: Construction of generic stated choice experiments for the estimation of main effects only, as well as experiments for the estimation of main effects plus two-factor interactions Constructions for choice sets of any size and for attributes with any number of levels A discussion of designs that contain a none option or a common base option Practical techniques for the implementation of the constructions Class-tested material that presents theoretical discussion of optimal design Complete and extensive references to the mathematical and statistical literature for the constructions Exercise sets in most chapters, which reinforce the understanding of the presented material The Construction of Optimal Stated Choice Experiments serves as an invaluable reference guide for applied statisticians and practitioners in the areas of marketing, health economics, transport, and environmental evaluation. It is also ideal as a supplemental text for courses in the design of experiments, decision support systems, and choice models. A companion web site is available for readers to access web-based software that can be used to implement the constructions described in the book.
Author: Jayson L. Lusk
Publisher: Oxford Handbooks
ISBN: 0199681325
Category : Business & Economics
Languages : en
Pages : 923
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Book Description
First reference on food consumption and policy.
