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Consumer Demand with Unobservable Product Attributes - Part II: Inference

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Abstract

In this paper we discuss statistical inference associated with the theoretical model developed in Part I. Specifically, we demonstrate how the relationship between the distribution of prices and unit values can be exploited to estimate some of the structural parameters. These estimates are essential for constructing price indexes that account for unobservable taste-shifters and quality/location attributes. Finally, the remaining structural parameters can be estimated from data on demand by inserting the price indexes into the corresponding demand system. Finally, we discuss the estimation procedure in the discrete case when consumers choose one unit of a variant at a time.

Suggested Citation

  • John K. Dagsvik, 1996. "Consumer Demand with Unobservable Product Attributes - Part II: Inference," Discussion Papers 167, Statistics Norway, Research Department.
  • Handle: RePEc:ssb:dispap:167
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    File URL: https://www.ssb.no/a/publikasjoner/pdf/DP/dp_167.pdf
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    Cited by:

    1. Leif Brubakk & John K. Dagsvik, 1998. "Consumer Demand and Unobservable Product Attributes," Discussion Papers 223, Statistics Norway, Research Department.

    More about this item

    Keywords

    Price indexes; differentiated products; quasi-maximum likelihood; quality and location attributes.;

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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