Estimating Discrete-Choice Models of Product Differentiation
Bibliographic Data
| ID | 23322644 |
|---|---|
| Authors | Steven Berry (corresponding author), Steven T Berry |
| Year | 1994 |
| Volume | 25 |
| Issue | 2 |
| Pages | 242 |
| Publication date | 1994-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The RAND Journal of Economics (JOURNAL) |
| Journal identifiers | ISSN: 0741-6261 • E-ISSN: 1756-2171 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.2307/2555829 |
| OpenAlex | W2093714429 |
| Language | EN |
| Citations received | 140 |
| References cited | 8 |
This article considers the problem of "supply-and-demand" analysis on a cross section of oligopoly markets with differentiated products. The primary methodology is to assume that demand can be described by a discrete-choice model and that prices are endogenously determined by price-setting firms. In contrast to some previous empirical work, the techniques explicitly allow for the possibility that prices are correlated with unobserved demand factors in the cross section of markets. The article proposes estimation by "inverting" the market-share equation to find the implied mean levels of utility for each good. This method allows for estimation by traditional instrumental variables techniques.
Contrast (vision) · Cournot competition · Discrete choice · Econometrics · Economics · Estimation · Microeconomics · Oligopoly · Product (mathematics) · Product differentiation · Supply and demand · Work (physics) · Computer Science · Consumer Market Behavior and Pricing · Economics of Agriculture and Food Markets · Mathematics · Merger and Competition Analysis
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| Unique citing works | 140 |
|---|---|
| Citations per year | 4,52 |
| Citation span | 1995 - 2026 (32) |
| Citation velocity | current |
| Highly cited | Yes |
| Citation types | Neutral: 131 |