| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13731 |
| DP13731 Peer Effects in Product Adoption | |
| Michael Bailey; Drew Johnston; Theresa Kuchler; Johannes Ströbel; Arlene Wong | |
| 发表日期 | 2019-05-13 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We study the nature of peer effects in the market for new cell phones. Our analysis builds on de-identified data from Facebook that combine information on social networks with information on users' cell phone models. To identify peer effects, we use variation in friends' new phone acquisitions resulting from random phone losses and carrier-specific contract terms. A new phone purchase by a friend has a substantial positive and long-term effect on an individual's own demand for phones of the same brand, most of which is concentrated on the particular model purchased by the friend. We provide evidence that social learning contributes substantially to the observed peer effects. While peer effects increase the overall demand for cell phones, a friend's purchase of a new phone of a particular brand can reduce individuals' own demand for phones from competing brands---in particular those running on a different operating system. We discuss the implications of these findings for the nature of firm competition. We also find that stronger peer effects are exerted by more price-sensitive individuals. This positive correlation suggests that the elasticity of aggregate demand is substantially larger than the elasticity of individual demand. Through this channel, peer effects reduce firms' markups and, in many models, contribute to higher consumer surplus and more efficient resource allocation. |
| 主题 | Financial Economics ; Industrial Organization ; Macroeconomics and Growth ; Public Economics |
| 关键词 | Peer effects Demand spillovers Social learning |
| URL | https://cepr.org/publications/dp13731 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542594 |
| 推荐引用方式 GB/T 7714 | Michael Bailey,Drew Johnston,Theresa Kuchler,et al. DP13731 Peer Effects in Product Adoption. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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