Empirical Models of Consumer Behavior

38 Pages Posted: 1 Nov 2010 Last revised: 12 Feb 2021

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 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.

Suggested Citation

Nevo, Aviv, Empirical Models of Consumer Behavior (October 2010). NBER Working Paper No. w16511, Available at SSRN: https://ssrn.com/abstract=1699611

Aviv Nevo (Contact Author)

Northwestern University - Department of Economics ( email )

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National Bureau of Economic Research (NBER)

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