Foundations of Demand Estimation

Steven Berry () and Philip A. Haile ()
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Philip A. Haile: Cowles Foundation, Yale University, https://economics.yale.edu/people/faculty/philip-haile

No 2301, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

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.

Pages: 66 pages
Date: 2021-09
New Economics Papers: this item is included in nep-com and nep-isf
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Citations: View citations in EconPapers (13)

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