Demand Analysis with Many Prices / Victor Chernozhukov, Jerry A. Hausman, Whitney K. Newey.

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Chernozhukov, Victor

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w26424.Publication details: Cambridge, Mass. National Bureau of Economic Research 2019.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: From its inception, demand estimation has faced the problem of "many prices." This paper provides estimators of average demand and associated bounds on exact consumer surplus when there are many prices in cross-section or panel data. For cross-section data we provide a debiased machine learner of consumer surplus bounds that allows for general heterogeneity and solves the "zeros problem" of demand. For panel data we provide bias corrected, ridge regularized estimators of average coefficients and consumer surplus bounds. In scanner data we find smaller panel elasticities than cross-section and that soda price increases are regressive.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w26424 (Browse shelf(Opens below))	Not For Loan

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November 2019.

From its inception, demand estimation has faced the problem of "many prices." This paper provides estimators of average demand and associated bounds on exact consumer surplus when there are many prices in cross-section or panel data. For cross-section data we provide a debiased machine learner of consumer surplus bounds that allows for general heterogeneity and solves the "zeros problem" of demand. For panel data we provide bias corrected, ridge regularized estimators of average coefficients and consumer surplus bounds. In scanner data we find smaller panel elasticities than cross-section and that soda price increases are regressive.