Empirical Models of Consumer Behavior

Aviv Nevo

Annual Review of Economics, 2011, vol. 3, issue 1, 51-75

Abstract: Models of consumer behavior play a key role in modern empirical industrial organization. In this review, I survey some of the models used in this literature. In particular, I discuss two commonly used demand systems: multistage budgeting approaches and discrete choice models. I motivate their use and highlight some key modeling assumptions. I next briefly discuss key issues of estimation and conclude by summarizing some extensions.

Keywords: industrial organization; demand estimation; differentiated products; Almost Ideal Demand System; discrete choice (search for similar items in EconPapers)
JEL-codes: C3 C51 D12 L10 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (43)

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Working Paper: Empirical Models of Consumer Behavior (2010)
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