| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29530 |
| 来源ID | Working Paper 29530 |
| Incorporating Search and Sales Information in Demand Estimation | |
| Ali Hortaçsu; Olivia R. Natan; Hayden Parsley; Timothy Schwieg; Kevin R. Williams | |
| 发表日期 | 2021-12-06 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We propose an approach to modeling and estimating discrete choice demand that allows for a large number of zero sale observations, rich unobserved heterogeneity, and endogenous prices. We do so by modeling small market sizes through Poisson arrivals. Each of these arriving consumers then solves a standard discrete choice problem. We present a Bayesian IV estimation approach that addresses sampling error in product shares and scales well to rich data environments. The data requirements are traditional market-level data and measures of consumer search intensity. After presenting simulation studies, we consider an empirical application of air travel demand where product-level sales are sparse. We find considerable variation in demand over time. Periods of peak demand feature both larger market sizes and consumers with higher willingness to pay. This amplifies cyclicality. However, observed frequent price and capacity adjustments offset some of this compounding effect. |
| 主题 | Econometrics ; Estimation Methods ; Industrial Organization ; Industry Studies |
| URL | https://www.nber.org/papers/w29530 |
| 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/587204 |
| 推荐引用方式 GB/T 7714 | Ali Hortaçsu,Olivia R. Natan,Hayden Parsley,et al. Incorporating Search and Sales Information in Demand Estimation. 2021. |
| 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 | ||
| w29530.pdf（575KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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