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On Asymptotic Properties of the Parameters of Differentiated Product Demand and Supply Systems When Demographically Categorized Purchasing Pattern Data are Available


Satoshi Myojo


affiliation not provided to SSRN

Yuichiro Kanazawa


affiliation not provided to SSRN
August 2012

International Economic Review, Vol. 53, Issue 3, pp. 887-938, 2012

Abstract:     
We derive asymptotic properties of an estimator for supply and demand models extended with additional moments relating consumer demographics to the characteristics of purchased products. We clarify the structure of a practical sampling scheme in which the extended estimator is consistent, asymptotically normal, and more efficient than the original estimator. We provide conditions guaranteeing the asymptotic theorems hold for the random coefficient logit model of demand with oligopolistic suppliers. Extensive simulation studies demonstrate significant benefits of the additional moments in estimating the random coefficient logit model.

Number of Pages in PDF File: 51

Accepted Paper Series


Date posted: July 27, 2012  

Suggested Citation

Myojo, Satoshi and Kanazawa, Yuichiro, On Asymptotic Properties of the Parameters of Differentiated Product Demand and Supply Systems When Demographically Categorized Purchasing Pattern Data are Available (August 2012). International Economic Review, Vol. 53, Issue 3, pp. 887-938, 2012. Available at SSRN: http://ssrn.com/abstract=2118393 or http://dx.doi.org/10.1111/j.1468-2354.2012.00705.x

Contact Information

Satoshi Myojo (Contact Author)
affiliation not provided to SSRN
No Address Available
Yuichiro Kanazawa
affiliation not provided to SSRN
No Address Available
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