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A Research Assistant's Guide to Random Coefficients Discrete Choice Models of Demand

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  • Aviv Nevo

Abstract

The study of differentiated-products markets is a central part of empirical industrial organization. Questions regarding market power, mergers, innovation, and valuation of new brands are addressed using cutting-edge econometric methods and relying on economic theory. Unfortunately, difficulty of use and computational costs have limited the scope of application of recent developments in one of the main methods for estimating demand for differentiated products: random coefficients discrete choice models. As our understanding of these models of demand has increased, both the difficulty and costs have been greatly reduced. This paper carefully discusses the latest innovations in these methods with the hope of (1) increasing the understanding, and therefore the trust, among researchers who never used these methods, and (2) reducing the difficulty of use, and therefore aiding in realizing the full potential of these methods.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Technical Working Papers with number 0221.

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Date of creation: Feb 1998
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Handle: RePEc:nbr:nberte:0221

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Cited by:
  1. Khan, Beethika S., 2004. "Consumer Adoption of Online Banking: Does Distance Matter?," Department of Economics, Working Paper Series qt2bt1d76s, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  2. Nevo, Aviv, 1999. "Measuring Market Power in the Ready-to-Eat Cereal Industry," Competition Policy Center, Working Paper Series qt7cm5p858, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley.
  3. Beethika Khan, 2004. "Consumer Adoption of Online Banking: Does Distance Matter?," Development and Comp Systems 0407002, EconWPA.
  4. Charles Romeo, 2007. "A Gibbs sampler for mixed logit analysis of differentiated product markets using aggregate data," Computational Economics, Society for Computational Economics, vol. 29(1), pages 33-68, February.
  5. Aviv Nevo, 2003. "Mergers with Differentiated Products: The Case of Ready-to-Eat Cereal," Finance 0303004, EconWPA.
  6. Mojduszka, Eliza M., 2001. "Integration Of A Product Choice Model And A Latent Variable Model Of Nutrition Information," 2001 Annual meeting, August 5-8, Chicago, IL 20678, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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