Empirical Models of Consumer Behavior
Posted: 31 Aug 2011
There are 3 versions of this paper
Empirical Models of Consumer Behavior
NBER Working Paper No. w16511
Number of pages: 38
Posted: 01 Nov 2010
Last Revised: 12 Feb 2023
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Date Written: September 2011
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.
Suggested Citation: Suggested Citation
Nevo, Aviv, Empirical Models of Consumer Behavior (September 2011). Annual Review of Economics, Vol. 3, pp. 51-75, 2011, Available at SSRN: https://ssrn.com/abstract=1920101 or http://dx.doi.org/10.1146/annurev-economics-061109-080402
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