Download or read book Modeling Consumer Demand for a Large Set of Quality Differentiated Goods written by Roger H. Von Haefen and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modeling Consumer Demand for a Quality Differentiated Product written by Hongguang Gong and published by . This book was released on 1995 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book BLS Working Papers written by Roger von Haefen and published by CreateSpace. This book was released on 2013-08-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we develop a demand system approach for estimating preferences for an arbitrarily large set of quality differentiated goods at the individual or household level. We apply the model to an outdoor recreation data set consisting of day trips to 62 beaches in the Mid- Atlantic region and analyze the welfare effects of changes in beach characteristics and availability. Interest in the value of beach recreation opportunities arises from policy makers' need to assess the merits of beach nourishment programs and to measure the damages resulting from acute environmental accidents that impact beach availability. The Hicksian consumer surplus estimates reported in this paper address these issues and represent the first welfare measures derived from a theoretically consistent demand system model that accounts for interior and corner solutions and accommodates a large set of quality differentiated goods.
Download or read book Discrete Choice Theory of Product Differentiation written by Simon P. Anderson and published by MIT Press. This book was released on 1992 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The discrete choice approach provides an ideal framework for describing the demands for differentiated products and can be used for studying most product differentiation models in the literature. By introducing extra dimensions of product heterogeneity, the framework also provides richer models of firm location and product selection."--BOOK JACKET.
Download or read book The Economic Theory of Product Differentiation written by John Beath and published by Cambridge University Press. This book was released on 1991-02-22 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.
Download or read book Global Food Trade and Consumer Demand for Quality written by Barry Krissoff and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers have always been concerned about the quality, and particularly the safety, of the foods they eat. In recent years this concern has taken on additional prominence. Consumer focus on food safety has been sharpened by reports about new risks, such as that posed by "mad cow" disease, and about more familiar sources of risk, such as food borne pathogens, pesticides, and hormones. At the same time, some consumers are in creasingly interested in knowing more about how their food is produced and in selecting products based on production practices. Some of the questions consumers are asking in clude whether food is produced with the use of modern biotechnology, whether it is or ganically produced, how animals are treated in meat and egg production systems, and whether food is produced using traditional methods. Recent trends also show increased consumer demand for a variety of food products that are fresh, tasty, and available on a year-round basis. This has fostered increased global trade in food. For example, consumers in temperate climates such as North America are able to buy raspberries throughout the year, and Europeans can enjoy South American coffee. Trade in processed food products is actually increasing more rapidly than trade in agricultural commodities, further addressing the demand for variety among consumers.
Download or read book Differentiated Products Competition in Supermarket Product Categories written by Jean-Pierre Dube and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasing availability of supermarket scanner data permits much richer studies of consumer demand for supermarket products. Most of the product categories consist of a large number of differentiated goods. Using a comprehensive supermarket data set, I explore several alternative methodologies for modeling consumer demand in the presence of differentiated products. I provide three applications in which consumer demand provides a basis for understanding and developing optimal firm strategy and competition policy.
Download or read book Controlling for Temporary Promotions in a Differentiated Products Model of Consumer Demand written by Charles J. Romeo and published by . This book was released on 2004 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Quantifying Consumer Preferences written by Daniel Slottje and published by Emerald Group Publishing. This book was released on 2009-05-21 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demand studies and understanding consumer behavior remain two of the most important areas of analysis by practicing applied economists and econometricians. This book presents research on the estimation of demand systems and the measurement of consumer preferences.
Download or read book Modeling Vertical Markets of Differentiated Goods written by Brandon James Hoffman and published by . This book was released on 2017 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a collection of essays on the topic of vertical markets and resellers. The first two chapters look at the effects of mandatory dealer laws on prices and profits in vertical markets with differentiated goods. The third chapter looks at the quality of products chosen when manufacturers use resellers compared to when they do not. All three chapters show that competition is lessened when mandatory dealer laws exist. Chapter 1 addresses the US automobile market which has laws in almost every state that require sales of new vehicles go through franchised dealers, and manufacturers are not allowed to sell directly to consumers. While vertical markets can provide many benefits to both producer and consumer alike, double-marginalization is often seen as a problem for producers and consumers with vertical markets; whereby firms on different levels both have market power and thus are both able to charge a markup over cost. Contracts and implicit agreements can mitigate or lessen the negative externality associated with double-marginalization, but I develop a model to show that double-marginalization can be a good thing for producers, while simultaneously being bad for consumers. The model has a single dimension on product differentiation and different levels of vertical markets. In this model, firms either sell to consumers or other firms. How far removed the manufacturer of the good is from the final consumer determines the number of vertical markets. A market with one level consists of a manufacturer who sells directly to consumers, while a market with two levels consists of a manufacturer who sells to a reseller who in turn sells to consumers. I find that the profits of the manufacturer of the good can be up to three times as high when there are two levels instead of one and that they will always be at least twice as high. This model also shows that manufacturers can benefit from the existence of a law that requires they use dealers, even though any one single manufacturer has an incentive to not use a dealer. Chapter 2 addresses mandatory dealer laws in a setting without perfectly inelastic demand. Under a certain set of circumstances, manufacturers can earn higher profits after the introduction of these mandatory dealer laws than they would be without them. In this chapter, I remove the perfectly inelastic total demand restriction, and instead show how the elasticity of total demand plays a role in a manufacturer's preference for a mandatory dealer law. For the model used in this paper, I find that total demand does not need to be very inelastic at all, and in fact, can be elastic at the equilibrium prices and quantities. The findings in this paper run contrary to expectation, where double-marginalization is something that hurts manufacture's profits. In chapter 3, I analyze the benefit of moving first in a vertically differentiated market with manufacturers and retailers. Both retailers and manufactures are assumed to be profit-maximizing entities. Here the choice of the incumbent manufacturer creates an indifference between entering with a higher quality or entering with a lower quality for the entering manufacturer. Entry-quality decisions and wholesale pricing are related to the competition of retailers selling the manufacturers product and the degree of consumers' taste for quality. I examine the indifference of the entering manufacturer and highlight the benefits of being able to set quality first as an incumbent manufacturer when pricing stages are simultaneous. Stackelberg competition in the quality stage allows for the possibility for inferior-quality entry as well as superior-quality entry. The first-mover advantage dominates the high-quality advantage in this setting which is consistent with my findings in the dock and boat-lift markets.
Download or read book Consumer Driven Demand and Operations Management Models written by Serguei Netessine and published by Springer Science & Business Media. This book was released on 2009-06-02 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book is by top scholars in supply chain management, revenue management, and e-commerce, all of which are grounded in information technologies and consumer demand research. The book looks at new selling techniques designed to reach the consumer.
Download or read book A Framework for the Estimation of Demand for Differentiated Products with Simultaneous Consumer Search written by José Luis Moraga-González and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a tractable method for estimation of a simultaneous search model for differentiated products that allows for observed and unobserved heterogeneity in both preferences and search costs. We show that for type I extreme value distributed search costs, expressions for search and purchase probabilities can be obtained in closed form. We show that our search model belongs to the generalized extreme value (GEV) class, which implies that it has a full information discrete-choice equivalent, and hence search data are necessary to distinguish between the search model and the equivalent full information model. We allow for price endogeneity when estimating the model and show how to obtain parameter estimates using a combination of aggregate market share data and individual level data on search and purchases. To deal with the dimensionality problem that typically arises in search models due to a large number of consideration sets we propose a novel Monte Carlo estimator for the search and purchase probabilities. Monte Carlo experiments highlight the importance of allowing for sufficient consumer heterogeneity when doing policy counterfactuals and show that our Monte Carlo estimator is accurate and computationally fast. Finally, a behavioral assumption on how consumers search provides a micro-foundation for consideration probabilities widely used in the literature.
Download or read book Demand for Differentiated Durable Products written by Oleg Melnikov and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops an estimation technique for analyzing the impact of technological change on the dynamics of consumer demand in a differentiated durable products industry. The paper presents a dynamic model of consumer demand for differentiated durable products that explicitly accounts for consumers' expectations of future product quality and consumers' outflow from the market that arises endogenously from their purchase decisions. The timing of consumers' purchases is formalized as an optimal stopping problem. A solution to that problem defines the hazard rate of product adoptions, while the nested discrete choice model determines the alternative-specific purchase probabilities. Integrating individual decisions over the population distribution generates rich dynamics of aggregate and product-level sales. The empirical part of the paper applies the model to data on the U.S. computer printer market for 1998-1999. The estimates support the hypothesis of consumers' forward-looking behavior, allowing for better demand forecasts and improved measures of welfare gains from introducing new products.
Download or read book International Trade written by Luis Rivera-Batiz and published by OUP Oxford. This book was released on 2003 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title offers an integrated account of strategic trade analysis, combined with empirical evidence and new results. It addresses the need to synthesize and integrate the new advances in a field that has become a key element of policy discussions.
Download or read book Handbook of Industrial Organization written by and published by Elsevier. This book was released on 2021-12-09 with total page 788 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Industrial Organization, Volume Four highlights new advances in the field, with this new volume presenting interesting chapters written by an international board of expert authors. Presents authoritative surveys and reviews of advances in theory and econometrics Reviews recent research on capital raising methods and institutions Includes discussions on developing countries
Download or read book The Effects of Mergers in Differentiated Products Industries written by Gregory Werden and published by . This book was released on 1993 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Brewing Beer and Pubs written by I. Cabras and published by Springer. This book was released on 2016-04-27 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: The production of beer today occurs within a bifurcated industrial structure. There exists a small number of large, global conglomerates supplying huge volumes of a limited range of beers, and a plethora of small and medium breweries producing a diverse range of beers sold under unique brands. Brewing, Beer and Pubs addresses a range of contemporary issues and challenges in this key sector of the global economy, and includes contributions by research specialists from a variety of countries and disciplines. This book includes the marketing and globalization of the brewing industry, beer excise duties and market concentration, and reflections upon developments in brewing and beer consumption across the world in order to explore the wide-reaching influence of this industry. Alongside these global topics more localised themes are presented such as market integration in the Chinese beer and wine markets, beer and brewing in Africa and South America, and turbulence and change in the UK public house industry, which demonstrate how the consumption of beer in pubs and other social environments make the beer industry integral to local communities and regions worldwide.
