4 papers · 1 filter
Nested Pseudo-GMM Estimation of Demand for Differentiated Products
Victor Aguirregabiria, Hui Liu, Yao Luo
We propose a fast algorithm for computing the GMM estimator in the BLP demand model (Berry, Levinsohn, and Pakes, 1995). Inspired by nested pseudo-likelihood methods for dynamic di…
Demand Analysis under Price Rigidity and Endogenous Assortment: An Application to China's Tobacco Industry
Hui Liu, Yao Luo
We observe nominal price rigidity in tobacco markets across China. The monopolistic seller responds by adjusting product assortments, which remain unobserved by the analyst. We dev…
Did Harold Zuercher Have Time-Separable Preferences?
Jay Lu, Yao Luo, Kota Saito +1
This paper proposes an empirical model of dynamic discrete choice to allow for non-separable time preferences, generalizing the well-known Rust (1987) model. Under weak conditions,…
Deconvolution from two order statistics
JoonHwan Cho, Yao Luo, Ruli Xiao
Economic data are often contaminated by measurement errors and truncated by ranking. This paper shows that the classical measurement error model with independent and additive measu…