Improving the performance of random coefficients demand models: The role of optimal instruments
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Reynaert, Mathias & Verboven, Frank, 2014. "Improving the performance of random coefficients demand models: The role of optimal instruments," Journal of Econometrics, Elsevier, vol. 179(1), pages 83-98.
- Verboven, Frank & Reynaert, Mathias, 2012. "Improving the Performance of Random Coefficients Demand Models: the Role of Optimal Instruments," CEPR Discussion Papers 9026, C.E.P.R. Discussion Papers.
- Mathias REYNAERT & Frank VERBOVEN, 2012. "Improving the performance of random coefficients demand models: the role of optimal instruments," Working Papers of Department of Economics, Leuven ces12.07, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
References listed on IDEAS
- Pinelopi Koujianou Goldberg & Rebecca Hellerstein, 2013.
"A Structural Approach to Identifying the Sources of Local Currency Price Stability,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(1), pages 175-210.
- Pinelopi K. Goldberg & Rebecca Hellerstein, 2007. "A Structural Approach to Identifying the Sources of Local-Currency Price Stability," NBER Working Papers 13183, National Bureau of Economic Research, Inc.
- Jean‐Pierre Dubé & Jeremy T. Fox & Che‐Lin Su, 2012. "Improving the Numerical Performance of Static and Dynamic Aggregate Discrete Choice Random Coefficients Demand Estimation," Econometrica, Econometric Society, vol. 80(5), pages 2231-2267, September.
- Steven Berry & Amit Gandhi & Philip Haile, 2013.
"Connected Substitutes and Invertibility of Demand,"
Econometrica, Econometric Society, vol. 81(5), pages 2087-2111, September.
- Steven T. Berry & Amit Gandhi & Philip Haile, 2011. "Connected Substitutes and Invertibility of Demand," NBER Working Papers 17193, National Bureau of Economic Research, Inc.
- Steven Berry & Amit Gandhi & Philip A. Haile, 2012. "Connected Substitutes and Invertibility of Demand," Levine's Working Paper Archive 786969000000000545, David K. Levine.
- Steven Berry & Amit Gandhi & Philip Haile, 2011. "Connected Substitutes and Invertibility of Demand," Cowles Foundation Discussion Papers 1806, Cowles Foundation for Research in Economics, Yale University.
- Steven Berry & Amit Gandhi & Philip Haile, 2011. "Connected Substitutes and Invertibility of Demand," Cowles Foundation Discussion Papers 1806R, Cowles Foundation for Research in Economics, Yale University, revised Jul 2012.
- Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-1054, July.
- Nevo, Aviv, 2001.
"Measuring Market Power in the Ready-to-Eat Cereal Industry,"
Econometrica, Econometric Society, vol. 69(2), pages 307-342, March.
- Aviv Nevo, 1998. "Measuring Market Power in the Ready-to-Eat Cereal Industry," NBER Working Papers 6387, National Bureau of Economic Research, Inc.
- 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.
- Aviv Nevo, 2003. "Measuring Market Power in the Ready-to-Eat Cereal Industry," Microeconomics 0303006, University Library of Munich, Germany.
- Nevo, Aviv, 1998. "Measuring Market Power in the Ready-To-Eat Cereal Industry," Food Marketing Policy Center Research Reports 037, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
- Nevo, Aviv, 1998. "Measuring Market Power in the Ready-To-Eat Cereal Industry," Research Reports 25164, University of Connecticut, Food Marketing Policy Center.
- Stock, James H & Wright, Jonathan H & Yogo, Motohiro, 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 518-529, October.
- Crawford, Gregory S., 2012.
"Endogenous product choice: A progress report,"
International Journal of Industrial Organization, Elsevier, vol. 30(3), pages 315-320.
- Crawford, Gregory, 2012. "Endogenous Product Choice: A Progress Report," CEPR Discussion Papers 8862, C.E.P.R. Discussion Papers.
- Crawford, Gregory S., 2012. "Endogenous Product Choice : A Progress Report," The Warwick Economics Research Paper Series (TWERPS) 979, University of Warwick, Department of Economics.
- Heiss, Florian & Winschel, Viktor, 2008. "Likelihood approximation by numerical integration on sparse grids," Journal of Econometrics, Elsevier, vol. 144(1), pages 62-80, May.
- Jean-Pierre H. Dubé & Jeremy T. Fox & Che-Lin Su, 2009. "Improving the Numerical Performance of BLP Static and Dynamic Discrete Choice Random Coefficients Demand Estimation," NBER Working Papers 14991, National Bureau of Economic Research, Inc.
- Fox, Jeremy T. & Kim, Kyoo il & Ryan, Stephen P. & Bajari, Patrick, 2012.
"The random coefficients logit model is identified,"
Journal of Econometrics, Elsevier, vol. 166(2), pages 204-212.
- Patrick Bajari & Jeremy Fox & Kyoo il Kim & Stephen P. Ryan, 2009. "The Random Coefficients Logit Model Is Identified," NBER Working Papers 14934, National Bureau of Economic Research, Inc.
- Chamberlain, Gary, 1987. "Asymptotic efficiency in estimation with conditional moment restrictions," Journal of Econometrics, Elsevier, vol. 34(3), pages 305-334, March.
- Jiang, Renna & Manchanda, Puneet & Rossi, Peter E., 2009. "Bayesian analysis of random coefficient logit models using aggregate data," Journal of Econometrics, Elsevier, vol. 149(2), pages 136-148, April.
- Newey, Whitney K, 1990.
"Efficient Instrumental Variables Estimation of Nonlinear Models,"
Econometrica, Econometric Society, vol. 58(4), pages 809-837, July.
- Newey, W.K., 1989. "Efficient Instrumental Variables Estimation Of Nonlinear Models," Papers 341, Princeton, Department of Economics - Econometric Research Program.
- Che‐Lin Su & Kenneth L. Judd, 2012.
"Constrained Optimization Approaches to Estimation of Structural Models,"
Econometrica, Econometric Society, vol. 80(5), pages 2213-2230, September.
- Che-Lin Su & Kenneth L. Judd, 2008. "Constrainted Optimization Approaches to Estimation of Structural Models," Discussion Papers 1460, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Kenneth L. Judd & Ben Skrainka, 2011. "High performance quadrature rules: how numerical integration affects a popular model of product differentiation," CeMMAP working papers CWP03/11, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Dubois, Pierre & Lasio, Laura, 2014.
"Identifying Industry Margins with Unobserved Price Constraints: Structural Estimation on Pharmaceuticals,"
IDEI Working Papers
823, Institut d'Économie Industrielle (IDEI), Toulouse.
- Dubois, Pierre & Lasio, Laura, 2014. "Identifying Industry Margins with Unobserved Price Constraints: Structural Estimation on Pharmaceuticals," CEPR Discussion Papers 9881, C.E.P.R. Discussion Papers.
- Dubois, Pierre & Lasio, Laura, 2014. "Identifying Industry Margins with Unobserved Price Constraints: Structural Estimation on Pharmaceuticals," TSE Working Papers 14-471, Toulouse School of Economics (TSE), revised Mar 2018.
- Amemiya, Takeshi, 1977. "The Maximum Likelihood and the Nonlinear Three-Stage Least Squares Estimator in the General Nonlinear Simultaneous Equation Model," Econometrica, Econometric Society, vol. 45(4), pages 955-968, May.
- Berry, Steven & Levinsohn, James & Pakes, Ariel, 1995.
"Automobile Prices in Market Equilibrium,"
Econometrica, Econometric Society, vol. 63(4), pages 841-890, July.
- Steven Berry & James Levinsohn & Ariel Pakes, 1993. "Automobile Prices in Market Equilibrium: Part I and II," NBER Working Papers 4264, National Bureau of Economic Research, Inc.
- McFadden, Daniel, 1974. "The measurement of urban travel demand," Journal of Public Economics, Elsevier, vol. 3(4), pages 303-328, November.
- Steven T. Berry, 1994. "Estimating Discrete-Choice Models of Product Differentiation," RAND Journal of Economics, The RAND Corporation, vol. 25(2), pages 242-262, Summer.
- James Levinsohn & Steven Berry & Ariel Pakes, 1999. "Voluntary Export Restraints on Automobiles: Evaluating a Trade Policy," American Economic Review, American Economic Association, vol. 89(3), pages 400-430, June.
- Michelle Sovinsky Goeree, 2008. "Limited Information and Advertising in the U.S. Personal Computer Industry," Econometrica, Econometric Society, vol. 76(5), pages 1017-1074, September.
- Michelle Sovinsky Goeree, 2005. "Advertising in the US Personal Computer Industry," Industrial Organization 0503002, University Library of Munich, Germany.
- Crawford, Gregory S., 2012. "Endogenous Product Choice: A Progress Report," Economic Research Papers 270745, University of Warwick - Department of Economics.
- Arellano, Manuel, 2003. "Panel Data Econometrics," OUP Catalogue, Oxford University Press, number 9780199245291.
- Frank Verboven, 1996. "International Price Discrimination in the European Car Market," RAND Journal of Economics, The RAND Corporation, vol. 27(2), pages 240-268, Summer.
- Aviv Nevo, 2000. "A Practitioner's Guide to Estimation of Random‐Coefficients Logit Models of Demand," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 9(4), pages 513-548, December.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Kaiser, Ulrich & Mendez, Susan J. & Rønde, Thomas & Ullrich, Hannes, 2014.
"Regulation of pharmaceutical prices: Evidence from a reference price reform in Denmark,"
Journal of Health Economics, Elsevier, vol. 36(C), pages 174-187.
- Kaiser, Ulrich & Mendez, Susan J. & Rønde, Thomas, 2010. "Regulation of pharmaceutical prices: Evidence from a reference price reform in Denmark," ZEW Discussion Papers 10-062, ZEW - Leibniz Centre for European Economic Research.
- Ulrich Kaiser & Susan J. Mendez & Thomas Rønde, 2010. "Regulation of Pharmaceutical Prices: Evidence from a Reference Price Reform in Denmark," CIE Discussion Papers 2010-01, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
- Ulrich Kaiser & Susan J. Méndez & Thomas Rønde & Hannes Ullrich, 2013. "Regulation of Pharmaceutical Prices: Evidence from a Reference Price Reform in Denmark," Working Papers 330, University of Zurich, Department of Business Administration (IBW).
- Kaiser, Ulrich & Méndez, Susan J. & Rønde, Thomas & Ullrich, Hannes, 2013. "Regulation of Pharmaceutical Prices: Evidence from a Reference Price Reform in Denmark," IZA Discussion Papers 7248, Institute of Labor Economics (IZA).
- Kaiser, Ulrich & Méndez, Susan & Rønde, Thomas & Ullrich, Hannes, 2013. "Regulation of Pharmaceutical Prices: Evidence from a Reference Price Reform in Denmark," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79937, Verein für Socialpolitik / German Economic Association.
- Amit Gandhi & Jean-François Houde, 2019. "Measuring Substitution Patterns in Differentiated-Products Industries," NBER Working Papers 26375, National Bureau of Economic Research, Inc.
- Suppliet, Moritz, 2020.
"Umbrella branding in pharmaceutical markets,"
Journal of Health Economics, Elsevier, vol. 73(C).
- Suppliet, Moritz, 2017. "Umbrella Branding in Pharmaceutical Markets," Other publications TiSEM 6ee607fc-8602-4270-a076-3, Tilburg University, School of Economics and Management.
- Suppliet, Moritz, 2017. "Umbrella Branding in Pharmaceutical Markets," Other publications TiSEM be3f3c38-5e39-4a67-af57-8, Tilburg University, School of Economics and Management.
- Suppliet, Moritz, 2017. "Umbrella Branding in Pharmaceutical Markets," Discussion Paper 2017-034, Tilburg University, Tilburg Law and Economic Center.
- Suppliet, Moritz, 2017. "Umbrella Branding in Pharmaceutical Markets," Discussion Paper 2017-033, Tilburg University, Center for Economic Research.
- Sun, Yutec & Ishihara, Masakazu, 2019. "A computationally efficient fixed point approach to dynamic structural demand estimation," Journal of Econometrics, Elsevier, vol. 208(2), pages 563-584.
- Christopher Conlon & Jeff Gortmaker, 2020. "Best practices for differentiated products demand estimation with PyBLP," RAND Journal of Economics, RAND Corporation, vol. 51(4), pages 1108-1161, December.
- Peter Davis & Pasquale Schiraldi, 2014.
"The flexible coefficient multinomial logit (FC-MNL) model of demand for differentiated products,"
RAND Journal of Economics, RAND Corporation, vol. 45(1), pages 32-63, March.
- Davis, Peter & Schiraldi, Pasquale, 2013. "The flexible coefficient multinomial logit (FC-MNL) model of demand for differentiated products," LSE Research Online Documents on Economics 54252, London School of Economics and Political Science, LSE Library.
- Schiraldi, Pasquale & Davis, Peter, 2014. "The flexible coefficient multinomial logit (FC-MNL) model of demand for differentiated products," LSE Research Online Documents on Economics 46855, London School of Economics and Political Science, LSE Library.
- Christopher R. Knittel & Konstantinos Metaxoglou, 2008. "Estimation of Random Coefficient Demand Models: Challenges, Difficulties and Warnings," NBER Working Papers 14080, National Bureau of Economic Research, Inc.
- Matthew Backus & Christopher Conlon & Michael Sinkinson, 2021. "Common Ownership and Competition in the Ready-to-Eat Cereal Industry," NBER Working Papers 28350, National Bureau of Economic Research, Inc.
- Freyberger, Joachim, 2015. "Asymptotic theory for differentiated products demand models with many markets," Journal of Econometrics, Elsevier, vol. 185(1), pages 162-181.
- Steve Berry & Oliver B. Linton & Ariel Pakes, 2004.
"Limit Theorems for Estimating the Parameters of Differentiated Product Demand Systems,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 71(3), pages 613-654.
- Steve Berry & Oliver Linton & Ariel Pakes, 2000. "Limit Theorems for Estimating the Parameters of Differentiated Product Demand Systems," STICERD - Econometrics Paper Series 400, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Steve Berry & Oliver B. Linton & Ariel Pakes, 2002. "Limit Theorems for Estimating the Parameters of Differentiated Product Demand Systems," Harvard Institute of Economic Research Working Papers 1955, Harvard - Institute of Economic Research.
- Steven Berry & Oliver Linton & Ariel Pakes, 2002. "Limit Theorems for Estimating the Parameters of Differentiated Product Demand Systems," Cowles Foundation Discussion Papers 1372, Cowles Foundation for Research in Economics, Yale University.
- Berry, Steve & Linton, Oliver & Pakes, Ariel, 2000. "Limit theorems for estimating the parameters of differentiated product demand systems," LSE Research Online Documents on Economics 2032, London School of Economics and Political Science, LSE Library.
- Steven T. Berry & Philip A. Haile, 2014.
"Identification in Differentiated Products Markets Using Market Level Data,"
Econometrica, Econometric Society, vol. 82(5), pages 1749-1797, September.
- Steven T. Berry & Philip A. Haile, 2014. "Identification in Differentiated Products Markets Using Market Level Data," Econometrica, Econometric Society, vol. 82, pages 1749-1797, September.
- Steven T. Berry & Philip A. Haile, 2010. "Identification in Differentiated Products Markets Using Market Level Data," NBER Working Papers 15641, National Bureau of Economic Research, Inc.
- Steven T. Berry & Philip Haile, 2010. "Identification in Differentiated Products Markets Using Market Level Data," Cowles Foundation Discussion Papers 1744R, Cowles Foundation for Research in Economics, Yale University, revised May 2012.
- Steven T. Berry & Philip Haile, 2010. "Identification in Differentiated Products Markets Using Market Level Data," Cowles Foundation Discussion Papers 1744, Cowles Foundation for Research in Economics, Yale University, revised Mar 2010.
- Miravete, Eugenio & Moral, Maria & Thurk, Jeff, 2015. "Innovation, Emissions Policy, and Competitive Advantage in the Diffusion of European Diesel Automobiles," CEPR Discussion Papers 10783, C.E.P.R. Discussion Papers.
- Ketz, Philipp, 2019.
"On asymptotic size distortions in the random coefficients logit model,"
Journal of Econometrics, Elsevier, vol. 212(2), pages 413-432.
- Philipp Ketz, 2019. "On asymptotic size distortions in the random coefficients logit model," Post-Print halshs-02302067, HAL.
- Philipp Ketz, 2019. "On asymptotic size distortions in the random coefficients logit model," PSE-Ecole d'économie de Paris (Postprint) halshs-02302067, HAL.
- Byrne, David P. & Imai, Susumu & Jain, Neelam & Sarafidis, Vasilis, 2022. "Instrument-free identification and estimation of differentiated products models using cost data," Journal of Econometrics, Elsevier, vol. 228(2), pages 278-301.
- Moon, Hyungsik Roger & Shum, Matthew & Weidner, Martin, 2018.
"Estimation of random coefficients logit demand models with interactive fixed effects,"
Journal of Econometrics, Elsevier, vol. 206(2), pages 613-644.
- Hyungsik Roger Moon & Matthew Shum & Martin Weidner, 2012. "Estimation of random coefficients logit demand models with interactive fixed effects," CeMMAP working papers CWP08/12, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Hyungsik Roger Moon & Matthew Shum & Martin Weidner, 2017. "Estimation of random coefficients logit demand models with interactive fixed effects," CeMMAP working papers CWP12/17, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Hyungsik Roger Moon & Matthew Shum & Martin Weidner, 2014. "Estimation of random coefficients logit demand models with interactive fixed effects," CeMMAP working papers CWP20/14, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Victor Aguirregabiria & Margaret Slade, 2017.
"Empirical models of firms and industries,"
Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(5), pages 1445-1488, December.
- Victor Aguirregabiria & Margaret Slade, 2017. "Empirical models of firms and industries," Canadian Journal of Economics, Canadian Economics Association, vol. 50(5), pages 1445-1488, December.
- Aguirregabiria, Victor & Slade, Margaret, 2017. "Empirical Models of Firms and Industries," CEPR Discussion Papers 12074, C.E.P.R. Discussion Papers.
- Aguirregabiria, Victor & Slade, Margaret E., 2017. "Empirical Models of Firms and Industries," Microeconomics.ca working papers margaret_e._slade-2017-4, Vancouver School of Economics, revised 27 Apr 2017.
- Victor Aguirregabiria & Margaret Slade, 2017. "Empirical Models of Firms and Industries," Working Papers tecipa-580, University of Toronto, Department of Economics.
- Bokhari, Farasat A.S. & Mariuzzo, Franco, 2018.
"Demand estimation and merger simulations for drugs: Logits v. AIDS,"
International Journal of Industrial Organization, Elsevier, vol. 61(C), pages 653-685.
- Farasat A.S. Bokhari & Franco Mariuzzo, 2018. "Demand estimation and merger simulations for drugs: Logits v. AIDS," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2016-06v3, Centre for Competition Policy, University of East Anglia, Norwich, UK..
- Pesendorfer, Martin & Schiraldi, Pasquale & Silva-Junior, Daniel, 2023. "Omitted budget constraint bias in discrete-choice demand models," International Journal of Industrial Organization, Elsevier, vol. 86(C).
- Amit Gandhi & Zhentong Lu & Xiaoxia Shi, 2023. "Estimating demand for differentiated products with zeroes in market share data," Quantitative Economics, Econometric Society, vol. 14(2), pages 381-418, May.
- Wang, Ao, 2021. "A BLP Demand Model of Product-Level Market Shares with Complementarity," The Warwick Economics Research Paper Series (TWERPS) 1351, University of Warwick, Department of Economics.
More about this item
JEL classification:
- C36 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Instrumental Variables (IV) Estimation
- L00 - Industrial Organization - - General - - - General
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ant:wpaper:2012011. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joeri Nys (email available below). General contact details of provider: https://edirc.repec.org/data/ftufsbe.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.