Antitrust & Competition Policy Blog

Editor: D. Daniel Sokol
University of Florida
Levin College of Law

Monday, October 17, 2011

Empirical Models of Consumer Behavior

Posted by D. Daniel Sokol

Aviv Nevo, Northwestern University - Department of Economics provides some interesting writing on Empirical Models of Consumer Behavior.

ABSTRACT: Models of consumer behavior play a key role in modern empirical industrial organization. In this review, I survey some of the models used in this literature. In particular, I discuss two commonly used demand systems: multistage 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.

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