Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market

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Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market

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Title: Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market
Author: Berry, Steven; Levinsohn, James; Pakes, Ariel

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Citation: Berry, Steven, James Levinsohn, and Ariel Pakes. 2004. Differentiated products demand systems from a combination of micro and macro data: The new car market. Journal of Political Economy 112(1): 68-105.
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Abstract: In this paper, we consider how rich sources of information on consumer choice can help to identify demand parameters in a widely used class of differentiated products demand models. Most important, we show how to use “second‐choice” data on automotive purchases to obtain good estimates of substitution patterns in the automobile industry. We use our estimates to make out‐of‐sample predictions about important recent changes in industry structure.
Published Version: http://dx.doi.org/10.1086/379939
Terms of Use: This article is made available under the terms and conditions applicable to Other Posted Material, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#LAA
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:3436404

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  • FAS Scholarly Articles [7176]
    Peer reviewed scholarly articles from the Faculty of Arts and Sciences of Harvard University
 
 

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