Empirical Models of Consumer Behavior

Aviv Nevo

Northwestern University - Department of Economics; National Bureau of Economic Research (NBER)

September 2011

Annual Review of Economics, Vol. 3, pp. 51-75, 2011

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.

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Date posted: August 31, 2011  

Suggested Citation

Nevo, Aviv, Empirical Models of Consumer Behavior (September 2011). Annual Review of Economics, Vol. 3, pp. 51-75, 2011. Available at SSRN: http://ssrn.com/abstract=1920101 or http://dx.doi.org/10.1146/annurev-economics-061109-080402

Contact Information

Aviv Nevo (Contact Author)
Northwestern University - Department of Economics ( email )
2003 Sheridan Road
Evanston, IL 60208
United States
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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