Distance, Demand, and Oligopoly Pricing
We demonstrate how to estimate a model of product demand and oligopoly pricing when products are multi-dimensionally differentiated. We provide an empirical counterpart to recent theoretical work on product differentiation. Using specifications informed by economic theory, we simultaneously estimate a demand system and price-cost margins for products differentiated in many dimensions.
|Date of creation:||Aug 1989|
|Date of revision:|
|Publication status:||published as "Estimating Markups and Market Conduct with Multidimensional Product Attributes," Review of Economic Studies, vol. 62, pp 19-52, 1995.|
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