| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26849 |
| 来源ID | Working Paper 26849 |
| A Method to Estimate Discrete Choice Models that is Robust to Consumer Search | |
| Jason Abaluck; Giovanni Compiani | |
| 发表日期 | 2020-03-16 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We state a sufficient condition under which choice data alone suffices to identify consumer preferences when choices are not fully informed. Suppose that: (i) the data generating process is a search model in which the attribute hidden to consumers is observed by the econometrician; (ii) if a consumer searches good j, she also searches goods which are better than j in terms of the non-hidden component of utility; and (iii) consumers choose the good that maximizes overall utility among searched goods. Canonical models will be biased: the value of the hidden attribute will be understated because consumers will be unresponsive to variation in the attribute for goods that they do not search. Under the conditions above and additional mild restrictions, an alternative method of recovering preferences using cross derivatives of choice probabilities succeeds regardless of the search protocol and is thus robust to whether consumers are informed. The approach nests several standard models, including full information. Our methods suggest natural tests for full information and can be used to forecast how consumers will respond to additional information. We verify in a lab experiment that our approach succeeds in recovering preferences when consumers engage in costly search. |
| 主题 | Econometrics ; Estimation Methods ; Data Collection ; Experimental Design ; Microeconomics ; Welfare and Collective Choice ; Economics of Information |
| URL | https://www.nber.org/papers/w26849 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584522 |
| 推荐引用方式 GB/T 7714 | Jason Abaluck,Giovanni Compiani. A Method to Estimate Discrete Choice Models that is Robust to Consumer Search. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26849.pdf（760KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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