| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27437 |
| 来源ID | Working Paper 27437 |
| Parallel Inverse Aggregate Demand Curves in Discrete Choice Models | |
| Kory Kroft; René Leal Vizcaíno; Matthew J. Notowidigdo; Ting Wang | |
| 发表日期 | 2020-06-29 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper highlights a previously-unnoticed property of commonly-used discrete choice models, which is that they feature parallel demand curves. Specifically, we show that in random utility models, inverse aggregate demand curves shift in parallel with respect to variety if and only if the random utility shocks follow the Gumbel distribution. Using results from Extreme Value Theory, we provide conditions for other distributions to generate parallel demands asymptotically, as the number of varieties increase. We establish these results in the benchmark case of symmetric products, illustrate them using numerical simulations and show that they hold in extended versions of the model with correlated tastes and asymmetric products. Lastly, we provide a “proof of concept” of parallel demands as an economic tool by showing how to use parallel demands to identify the change in consumer surplus from an exogenous change in product variety. |
| 主题 | Microeconomics ; Households and Firms ; Industrial Organization |
| URL | https://www.nber.org/papers/w27437 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585110 |
| 推荐引用方式 GB/T 7714 | Kory Kroft,René Leal Vizcaíno,Matthew J. Notowidigdo,et al. Parallel Inverse Aggregate Demand Curves in Discrete Choice Models. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27437.pdf（524KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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