BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:d8b0061e321bbdc8471b56f6f6b25af7
CATEGORIES:Seminars
CREATED:20161216T180249
SUMMARY:Rachel Griffith - Institute for Fiscal Studies
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Estimating Demand Parameters with Choice Set Misspecification\nAbstract:\nW
 e describe methods to estimate demand parameters in the presence of choice 
 set misspecification due to unobserved individual choice sets. We show that
  a consumer’s probability of making a choice from her true choice set can b
 e written as the probability she makes the same choice from a universal cho
 ice set less a bias term capturing the probability that she would choose an
 y of the elements in her true choice set. This bias term is ignored in the 
 vast majority of applications of differentiated product demand estimation, 
 which estimate preferences based on a universal choice set. We show how to 
 estimate models that account for this bias under Logit demand using both (1
 ) a variation of the Fixed Effect Logit approach due to Chamberlain (1980) 
 and (2) observed individual-specific purchase histories. We illustrate thes
 e ideas using household-level scanner data exploiting variation in choice s
 ets based on heterogeneous product offerings across stores and the introduc
 tion of a new product variety in the market for ketchup in the UK. Our resu
 lts show that accounting for choice set misspecification is critical for ac
 curately estimating own- and cross-price elasticities of demand.\n
DTSTAMP:20260407T001551Z
DTSTART:20151105T173000Z
DTEND:20151105T190000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR