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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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Related works:
Working Paper: Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market (2004) Downloads
Working Paper: Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market (2001) Downloads
Working Paper: Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market (1998) Downloads
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