Empirical Models of Consumer Behavior
AbstractModels of consumer behavior play a key role in modern empirical Industrial Organization. In this paper, I survey some of the models used in this literature. In particular, I discuss two commonly used demand systems: multi-stage budgeting approaches and discrete choice models. I motivate their use and highlight some key modeling assumptions. I next briefly discuss key issues of estimation, and conclude by summarizing some extensions.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 16511.
Date of creation: Oct 2010
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Publication status: published as Aviv Nevo, 2011. "Empirical Models of Consumer Behavior," Annual Review of Economics, Annual Reviews, vol. 3(1), pages 51-75, 09.
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- C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
- L0 - Industrial Organization - - General
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- Fajgelbaum, Pablo & Grossman, Gene M. & Helpman, Elhanan, 2011.
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