Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market

Steven Berry (), James Levinsohn and Ariel Pakes

Journal of Political Economy, 2004, vol. 112, issue 1, 68-105

Abstract: In this paper, we consider how rich sources of information on consumer choice can help to identify demand parameters in a widely used class of differentiated products demand models. Most important, we show how to use "second-choice" data on automotive purchases to obtain good estimates of substitution patterns in the automobile industry. We use our estimates to make out-of-sample predictions about important recent changes in industry structure.

Date: 2004
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Citations: View citations in EconPapers (342)

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Related works:
Working Paper: Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market (2004)
Working Paper: Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market (2001)
Working Paper: Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:ucp:jpolec:v:112:y:2004:i:1:p:68-105

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