.png){kind=icon}
.png){kind=icon}
Return
Robust firm pricing with panel data
.png){kind=icon}
PRE
AI
DOI：10.1016/j.jeconom.2013.02.007.png)
.png){kind=icon}
Original request for help.png){kind=icon}
Share.png){kind=icon}
Save
Abstract
En 中文
Firms often have imperfect information about demand for their products. We develop an integrated econometric and theoretical framework to model firm demand assessment and subsequent pricing decisions with limited information. We introduce a panel data discrete choice model whose realistic assumptions about consumer behavior deliver partially identified preferences and thus generate ambiguity in the firm pricing problem. We use the minimax-regret criterion as a decision-making rule for firms facing this ambiguity. We illustrate the framework's benefits relative to the most common discrete choice analysis approach through simulations and empirical examples with field data. (C) 2013 Elsevier B.V. All rights reserved.
Keywords:
Firm pricing
Minimax-regret
Partial identification
Panel data
AI Summary
Key information extracted from the uploaded paper, including a brief overview, abstract, background, key highlights, visual analysis, and future outlook.
Journal
IF:
4
Papers:
5.2K
Citations:
3.0W
Organization
View more organizations