Econometric Modeling of Differential Durable Goods Markets: an Application to Telephone
AbstractAs the structure of consumer preferences plays a crucial role in the analysis of differentiated product markets, estimation of demand systems is a sensitive task. This paper contributes to this project in two ways. First, we develop a method to deal with the simultaneous choice of an equipment and a level of usage. This question is crucial for durable goods. Second, our method is suited for households, i.e., micro data. The main feature of our method is to specify a direct utility function, which provides correct substitution patterns among products at the aggregate level, i.e., compatible with the intuition.
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Bibliographic InfoPaper provided by Toulouse - GREMAQ in its series Papers with number 99.527.
Length: 30 pages
Date of creation: 1999
Date of revision:
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ECONOMETRICS ; ECONOMIC MODELS ; DEMAND ; CONSUMPTION;
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
- C00 - Mathematical and Quantitative Methods - - General - - - General
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