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The Impact of Omitting Promotion Variables on Simulation Experiments

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  • David Weiskopf

Abstract

Using store-level scanner data, elasticity matrices are estimated using a twotiered demand system. Two basic models are estimated, one with promotion variables and one without. Differences between the estimates across the two models are statistically significant. However, when the elasticities are used as 'inputs' into several simulation exercises, there are only small differences in merger effects and patent damage estimates.The results suggest that the differences are not 'economically' significant.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal International Journal of the Economics of Business.

Volume (Year): 7 (2000)
Issue (Month): 2 ()
Pages: 159-166

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Handle: RePEc:taf:ijecbs:v:7:y:2000:i:2:p:159-166

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Related research

Keywords: Antitrust; Aids Demand; Merger Simulation; Patent Damage Simulation; Scanner Data; Omitted Variables Bias;

References

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  1. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
  2. Philip Crooke & Luke Froeb & Steven Tschantz & Gregory Werden, 1999. "Effects of Assumed Demand Form on Simulated Postmerger Equilibria," Review of Industrial Organization, Springer, vol. 15(3), pages 205-217, November.
  3. Aviv Nevo & Catherine Wolfram, 1999. "Prices and Coupons for Breakfast Cereals," NBER Working Papers 6932, National Bureau of Economic Research, Inc.
  4. Hausman, Jerry A, 1978. "Specification Tests in Econometrics," Econometrica, Econometric Society, vol. 46(6), pages 1251-71, November.
  5. Jerry HAUSMAN & Gregory LEONARD & J. Douglas ZONA, 1994. "Competitive Analysis with Differentiated Products," Annales d'Economie et de Statistique, ENSAE, issue 34, pages 159-180.
  6. Gregory Werden & Luke Froeb & James Langenfeld, 2000. "Lost Profits from Patent Infringement: The Simulation Approach," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 7(2), pages 213-227.
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Cited by:
  1. Tenn, Steven & Froeb, Luke & Tschantz, Steven, 2010. "Mergers when firms compete by choosing both price and promotion," International Journal of Industrial Organization, Elsevier, vol. 28(6), pages 695-707, November.

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