Download or read book Nonparametric Estimation of Demand Elasticities Using Panel Data written by Stefan Hoderlein and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Nonparametric Approach to Estimating Heterogeneous Demand from Censored Sales Panel Data written by Johannes Ferdinand Jörg and published by . This book was released on 2019 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing historical sales data to draw conclusions on the underlying demand structure is a central foundation for sales planning, e.g. in assortment and revenue optimization. This contribution focuses on estimating the choice behavior of demand segments as well as their distribution from panel data featuring multiple consecutive sales observations. Existing methods in this area mostly utilize parametric models and estimation procedures that rely on some given information, i.e., expert knowledge. To overcome this requirement, we employ finite mixtures to model sales events over multiple time frames and obtain nonparametric demand estimators. The proposed approach requires no given assumptions over underlying distributions. Furthermore, we also introduce a hindsight approach to assign individual sales observations to demand segments. This contribution decreases the need for manual adjustments in demand estimation and allows practitioners to gain detailed insight in purchase behaviors.In an extensive simulation study, we benchmark the approach on different data sets and compare its results to those from published approaches. The study highlights that the approach shows superior performance for markets with heterogeneous demand.
Download or read book Nonparametric Estimation of Exact Consumers Surplus and Deadweight Loss written by Jerry A. Hausman and published by . This book was released on 1992 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We apply nonparametric regression models to estimation of demand curves of the type most often used in applied research. From the demand curve estimators we derive estimates of exact consumers surplus and deadweight loss, that are the most widely used welfare and economic efficiency measures in areas of economics such as public finance. We also develop tests of the symmetry and downward sloping properties of compensated demand. We work out asymptotic normal sampling theory for kernel and series nonparametric estimators, as well as for the parametric case. The paper includes an application to gasoline demand. Empirical questions of interest here are the shape of the demand curve and the average magnitude of welfare loss from a tax on gasoline. In this application we compare parametric and nonparametric estimates of the demand curve, calculate exact and approximate measures of consumers surplus and deadweight loss, and give standard error estimates. We also analyze the sensitivity of the welfare measures to components of nonparametric regression estimators such as the number of terms in a series approximation.
Download or read book Nonparametric Demand Estimation in Differentiated Products Markets written by Giovanni Compiani and published by . This book was released on 2018 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: I develop and apply a nonparametric approach to estimate demand in differentiated products markets. Estimating demand flexibly is key to addressing many questions in economics that hinge on the shape - and notably the curvature - of market demand functions. My approach applies to standard discrete choice settings, but accommodates a broader range of consumer behaviors and preferences, including complementarities across goods, consumer inattention, and consumer loss aversion. Further, no distributional assumptions are made on the unobservables and only limited functional form restrictions are imposed. Using California grocery store data, I apply my approach to perform two counterfactual exercises: quantifying the pass-through of a tax, and assessing how much the multi-product nature of sellers contributes to markups. In both cases, I find that estimating demand flexibly has a significant impact on the results relative to a standard random coefficients discrete choice model, and I highlight how the outcomes relate to the estimated shape of the demand functions.
Download or read book Essays on Semiparametric and Nonparametric Estimation of Nonlinear Panel Data Models written by Wang, Xi and published by . This book was released on 2015 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foundations of Demand Estimation written by Steven T. Berry and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Demand elasticities and other features of demand are critical determinants of the answers to most positive and normative questions about market power or the functioning of markets in practice. As a result, reliable demand estimation is an essential input to many types of research in Industrial Organization and other fields of economics. This chapter presents a discussion of some foundational issues in demand estimation. We focus on the distinctive challenges of demand estimation and strategies one can use to overcome them. We cover core models, alternative data settings, common estimation approaches, the role and choice of instruments, and nonparametric identification.
Download or read book Essays in Honor of M Hashem Pesaran written by Alexander Chudik and published by Emerald Group Publishing. This book was released on 2022-01-18 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The collection of chapters in Volume 43 Part B of Advances in Econometrics serves as a tribute to one of the most innovative, influential, and productive econometricians of his generation, Professor M. Hashem Pesaran.
Download or read book Econometric Models For Industrial Organization written by Matthew Shum and published by World Scientific. This book was released on 2016-12-14 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Models for Industrial Organization focuses on the specification and estimation of econometric models for research in industrial organization. In recent decades, empirical work in industrial organization has moved towards dynamic and equilibrium models, involving econometric methods which have features distinct from those used in other areas of applied economics. These lecture notes, aimed for a first or second-year PhD course, motivate and explain these econometric methods, starting from simple models and building to models with the complexity observed in typical research papers. The covered topics include discrete-choice demand analysis, models of dynamic behavior and dynamic games, multiple equilibria in entry games and partial identification, and auction models.
Download or read book Semi nonparametric Estimation and Testing of Consumer Demand Systems written by Ying Li and published by . This book was released on 1993 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Handbook of Industrial Organization written by Kate Ho and published by Elsevier. This book was released on 2021-12-09 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Industrial Organization Volume 4 highlights new advances in the field, with this new volume presenting interesting chapters. Each chapter is written by an international board of authors. Part of the renowned Handbooks in Economics series Chapters are contributed by some of the leading experts in their fields A source, reference and teaching supplement for industrial organizations or industrial economists
Download or read book Identification and Estimation of irregular Correlated Random Coefficient Models written by Bryan S. Graham and published by . This book was released on 2008 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we study identification and estimation of the causal effect of a small change in an endogenous regressor on a continuously-valued outcome of interest using panel data. We focus on the average partial effect (APE) over the full population distribution of unobserved heterogeneity (e.g., Chamberlain, 1984; Blundell and Powell, 2003; Wooldridge, 2005a). In our basic model the outcome of interest varies linearly with a (scalar) regressor, but with an intercept and slope coefficient that may vary across units and over time in a way which depends on the regressor. This model is a special case of Chamberlain's (1980b, 1982, 1992a) correlated random coefficients (CRC) model, but not does not satisfy the regularity conditions he imposes. Irregularity, while precluding estimation at parametric rates, does not result in a loss of identification under mild smoothness conditions. We show how two measures of the outcome and regressor for each unit are sufficient for identification of the APE as well as aggregate time trends. We identify aggregate trends using units with a zero first difference in the regressor or, in the language of Chamberlain (1980b, 1982), 'stayers' and the average partial effect using units with non-zero first differences or 'movers'. We discuss extensions of our approach to models with multiple regressors and more than two time periods. We use our methods to estimate the average elasticity of calorie consumption with respect to total outlay for a sample of poor Nicaraguan households (cf., Strauss and Thomas, 1995; Subramanian and Deaton, 1996). Our CRC average elasticity estimate declines with total outlay more sharply than its parametric counterpart.
Download or read book Application of Multi Criteria Decision Analysis in Environmental and Civil Engineering written by Dilber Uzun Ozsahin and published by Springer Nature. This book was released on 2021-02-28 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of a multi-criteria, decision-making theory was first studied in the 1970s. Its application in civil and environmental engineering is a new approach which can be enormously helpful for manufacturing companies, students, managers, engineers, etc. The purpose of this book is to provide a resource for students and researchers that includes current application of a multi-criteria, decision-making theory in various fields such as: environment, healthcare and engineering. In addition, practical application are shown for students manually. In real life problems there are many critical parameters (criteria) that can directly or indirectly affect the consequences of different decisions. Application of a multi-criteria, decision-making theory is basically the use of computational methods that incorporate several criteria and order of preference in evaluating and selecting the best option among many alternatives based on the desired outcome.
Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2009-07-06 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.
Download or read book Bayesian Statistics and Marketing written by Peter E. Rossi and published by John Wiley & Sons. This book was released on 2012-05-14 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past decade has seen a dramatic increase in the use of Bayesian methods in marketing due, in part, to computational and modelling breakthroughs, making its implementation ideal for many marketing problems. Bayesian analyses can now be conducted over a wide range of marketing problems, from new product introduction to pricing, and with a wide variety of different data sources. Bayesian Statistics and Marketing describes the basic advantages of the Bayesian approach, detailing the nature of the computational revolution. Examples contained include household and consumer panel data on product purchases and survey data, demand models based on micro-economic theory and random effect models used to pool data among respondents. The book also discusses the theory and practical use of MCMC methods. Written by the leading experts in the field, this unique book: Presents a unified treatment of Bayesian methods in marketing, with common notation and algorithms for estimating the models. Provides a self-contained introduction to Bayesian methods. Includes case studies drawn from the authors’ recent research to illustrate how Bayesian methods can be extended to apply to many important marketing problems. Is accompanied by an R package, bayesm, which implements all of the models and methods in the book and includes many datasets. In addition the book’s website hosts datasets and R code for the case studies. Bayesian Statistics and Marketing provides a platform for researchers in marketing to analyse their data with state-of-the-art methods and develop new models of consumer behaviour. It provides a unified reference for cutting-edge marketing researchers, as well as an invaluable guide to this growing area for both graduate students and professors, alike.
Download or read book Panel Data Econometrics written by Mike Tsionas and published by Academic Press. This book was released on 2019-06-19 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Panel Data Econometrics: Theory introduces econometric modelling. Written by experts from diverse disciplines, the volume uses longitudinal datasets to illuminate applications for a variety of fields, such as banking, financial markets, tourism and transportation, auctions, and experimental economics. Contributors emphasize techniques and applications, and they accompany their explanations with case studies, empirical exercises and supplementary code in R. They also address panel data analysis in the context of productivity and efficiency analysis, where some of the most interesting applications and advancements have recently been made. Provides a vast array of empirical applications useful to practitioners from different application environments Accompanied by extensive case studies and empirical exercises Includes empirical chapters accompanied by supplementary code in R, helping researchers replicate findings Represents an accessible resource for diverse industries, including health, transportation, tourism, economic growth, and banking, where researchers are not always econometrics experts
Download or read book The Oxford Handbook of Health Economics written by Sherry Glied and published by Oxford University Press. This book was released on 2011-04-07 with total page 992 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an engaging, comprehensive review of health economics, with a focus on policy implications in the developed and developing world. Authoritative, but non-technical, it stresses the wide reach of the discipline - across nations, health systems, and areas within health and medical care.
