| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16574 |
| DP16574 Consumer Search and Prices in the Automobile Market | |
| José-Luis Moraga-González; Zsolt Sándor; Matthijs Wildenbeest | |
| 发表日期 | 2021-09-22 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper develops a discrete choice model of demand with optimal sequential consumer search. Consumers first choose a product to search; then, once they learn the utility they get from the searched product, they choose whether to buy it or to keep searching. We characterize the search problem as a standard discrete choice problem and propose a parametric search cost distribution that generates closed-form expressions for the probability of purchasing a product. We propose a method to estimate the model that supplements aggregate product data with individual-specific data which allows for the separate identification of search costs and preferences. We estimate the model using data from the automobile industry and find that search costs have non-trivial implications for elasticities and markups. We study the effects of exclusive dealing regulation and find that firms benefit at the expense of consumers, who face higher search costs and higher prices than would be the case if multi-brand dealerships were used. |
| 主题 | Industrial Organization |
| 关键词 | Consumer search Differentiated products Demand estimation Automobiles Exclusive dealing |
| URL | https://cepr.org/publications/dp16574 |
| 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/545524 |
| 推荐引用方式 GB/T 7714 | José-Luis Moraga-González,Zsolt Sándor,Matthijs Wildenbeest. DP16574 Consumer Search and Prices in the Automobile Market. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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