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Distance, Demand, and Oligopoly Pricing

  • Robert C. Feenstra
  • James A. Levinsohn

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.

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File URL: http://www.nber.org/papers/w3076.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3076.

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Date of creation: Aug 1989
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Publication status: published as "Estimating Markups and Market Conduct with Multidimensional Product Attributes," Review of Economic Studies, vol. 62, pp 19-52, 1995.
Handle: RePEc:nbr:nberwo:3076
Note: ITI IFM
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  1. Anderson, Simon Peter & de Palma, Andre & Thisse, Jacques-Francois, 1988. "A Representative Consumer Theory of the Logit Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 29(3), pages 461-66, August.
  2. Quandt, Richard E., 1983. "Computational problems and methods," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 1, chapter 12, pages 699-764 Elsevier.
  3. Bresnahan, Timothy F., 1981. "Departures from marginal-cost pricing in the American automobile industry : Estimates for 1977-1978," Journal of Econometrics, Elsevier, vol. 17(2), pages 201-227, November.
  4. Trajtenberg, Manuel, 1989. "The Welfare Analysis of Product Innovations, with an Application to Computed Tomography Scanners," Journal of Political Economy, University of Chicago Press, vol. 97(2), pages 444-79, April.
  5. Edward E. Leamer, 1982. "Let's Take the Con Out of Econometrics," UCLA Economics Working Papers 239, UCLA Department of Economics.
  6. Levinsohn, J. & Feenstra, R., 1988. "Identifying The Competition," Working Papers 232, Research Seminar in International Economics, University of Michigan.
  7. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  8. Jones, Larry E, 1988. "The Characteristics Model, Hedonic Prices, and the Clientele Effect," Journal of Political Economy, University of Chicago Press, vol. 96(3), pages 551-67, June.
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