Foundations of Demand Estimation

Steven Berry () and Philip Haile

No 29305, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: C36 D12 L20 (search for similar items in EconPapers)
Date: 2021-09
New Economics Papers: this item is included in nep-com and nep-cwa
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Working Paper: Foundations of Demand Estimation (2021)
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