On Asymptotic Properties of the Parameters of Differentiated Product Demand and Supply Systems When Demographically-Categorized Purchasing Pattern Data are Available

Satoshi Myojo () and Yuichiro Kanazawa
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Satoshi Myojo: Graduate School of Economics, Kobe University
Yuichiro Kanazawa: University of Tsukuba

No 1009, Discussion Papers from Graduate School of Economics, Kobe University

Abstract: In this paper, we derive asymptotic theorems for the Petrin (2002) extension of the Berry, Levinsohn, and Pakes (BLP, 1995) framework to estimate demand-supply models with micro moments. The micro moments contain the information relating the consumer demographics to the characteristics of the products they purchase. With additional assumptions, the extended estimator is shown to be CAN and more efficient than the BLP estimator. We discuss the conditions under which these asymptotic theorems hold for the random coefficient logit model. We implement extensive simulation studies and confirm the benefit of the micro moments in estimating the random coefficient logit model.

Pages: 50pages
Date: 2010-06
New Economics Papers: this item is included in nep-ecm
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