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Empirical Models of Consumer Behavior

Posted: 31 Aug 2011  

Aviv Nevo

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

Multiple version iconThere are 3 versions of this paper

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

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

Aviv Nevo (Contact Author)

Northwestern University - Department of Economics ( email )

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Evanston, IL 60208
United States

National Bureau of Economic Research (NBER)

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Cambridge, MA 02138
United States

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