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Key structural modeling researches June 8, 2007

Posted by jyu in Qualifying.
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(1) Information set (Mehta, Rajiv, and Srinivasan, 2003, 2004)

— Model the acquisition of price information as an optimal search process in which the consumer trade off the cost of additional price information with the benefits.

(2) Purchase Behavior (Dube 2004; Erdem et al. 2003; Hendel 1999)

— Considering that consumers are purchasing products in anticipation of future consumption.  A multi-period model, consumers attempt to maximize the total or discounted flow of utility that is subject to inventory accumulation and budget constraints.

(3) Consumer Learning (Erdem and Keane 1996)

— A dynamic setting, the consumer updates his or her view of the product through some sort of Bayesian paradigm.  Consumers learn about the quality of detergents through consumption and advertising.

(4) Demand Models (Berry 1994; Berry, Levinsohn, and Pakes 1995; Neveo 2001)

–Development of aggregate-level demand models that start from the microeconomic fundations of utility maximization at the individual level and then explicitly aggregate over a heterogeneous population of subjects to derive the aggregate demand function that preserves the economic primitives of consumer preferences.

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