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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/64775
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| DC Field | | Value | | Language |
| dc.contributor.author | | Moon, Hyungsik Roger | | en_US |
| dc.contributor.author | | Shum, Matthew | | en_US |
| dc.contributor.author | | Weidner, Martin | | en_US |
| dc.date.accessioned | | 2012-04-18 | | en_US |
| dc.date.accessioned | | 2012-10-16T13:09:15Z | | - |
| dc.date.available | | 2012-10-16T13:09:15Z | | - |
| dc.date.issued | | 2012 | | en_US |
| dc.identifier.pi | | doi:10.1920/wp.cem.2012.0812 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/64775 | | - |
| dc.description.abstract | | We extend the Berry, Levinsohn and Pakes (BLP, 1995) random coefficients discretechoice demand model, which underlies much recent empirical work in IO. We add interactive fixed effects in the form of a factor structure on the unobserved product characteristics. The interactive fixed effects can be arbitrarily correlated with the observed product characteristics (including price), which accommodates endogeneity and, at the same time, captures strong persistence in market shares across products and markets. We propose a two step least squares-minimum distance (LS-MD) procedure to calculate the estimator. Our estimator is easy to compute, and Monte Carlo simulations show that it performs well. We consider an empirical application to US automobile demand. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Centre for Microdata Methods and Practice London | | en_US |
| dc.relation.ispartofseries | | cemmap working paper CWP08/12 | | en_US |
| dc.subject.jel | | C23 | | en_US |
| dc.subject.jel | | C25 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | discrete-choice demand model | | en_US |
| dc.subject.keyword | | interactive fixed effects | | en_US |
| dc.subject.keyword | | factor analysis | | en_US |
| dc.subject.keyword | | panel data | | en_US |
| dc.subject.keyword | | random utility model | | en_US |
| dc.title | | Estimation of random coefficients logit demand models with interactive fixed effects | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 690199198 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | cemmap working papers, Centre for Microdata Methods and Practice, Institute for Fiscal Studies (IFS)
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