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dc.contributor.authorMoon, Hyungsik Rogeren
dc.contributor.authorShum, Matthewen
dc.contributor.authorWeidner, Martinen
dc.date.accessioned2012-04-18-
dc.date.accessioned2012-10-16T13:09:15Z-
dc.date.available2012-10-16T13:09:15Z-
dc.date.issued2012-
dc.identifier.pidoi:10.1920/wp.cem.2012.0812en
dc.identifier.urihttp://hdl.handle.net/10419/64775-
dc.description.abstractWe 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
dc.language.isoengen
dc.publisher|aCentre for Microdata Methods and Practice (cemmap) |cLondonen
dc.relation.ispartofseries|acemmap working paper |xCWP08/12en
dc.subject.jelC23en
dc.subject.jelC25en
dc.subject.ddc330en
dc.subject.keyworddiscrete-choice demand modelen
dc.subject.keywordinteractive fixed effectsen
dc.subject.keywordfactor analysisen
dc.subject.keywordpanel dataen
dc.subject.keywordrandom utility modelen
dc.titleEstimation of random coefficients logit demand models with interactive fixed effects-
dc.typeWorking Paperen
dc.identifier.ppn690199198en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:ifs:cemmap:08/12en

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