Empirical Models of Consumer Behavior

37 Pages Posted: 24 Oct 2010

See all articles by Aviv Nevo

Aviv Nevo

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

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Date Written: October 10, 2010

Abstract

Models of consumer behavior play a key role in modern empirical Industrial Organization. In this paper, I survey some of the models used in this literature. In particular, I discuss two commonly used demand systems: multi-stage 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.

Keywords: Industrial Organization, Demand Estimation, Differentiated Products, Almost Ideal Demand System, Discrete Choice

Suggested Citation

Nevo, Aviv, Empirical Models of Consumer Behavior (October 10, 2010). Available at SSRN: https://ssrn.com/abstract=1696139 or http://dx.doi.org/10.2139/ssrn.1696139

Aviv Nevo (Contact Author)

Northwestern University - Department of Economics ( email )

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National Bureau of Economic Research (NBER)

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