期刊
JOURNAL OF ECONOMETRICS
卷 103, 期 1-2, 页码 111-153出版社
ELSEVIER SCIENCE SA
DOI: 10.1016/S0304-4076(01)00041-0
关键词
panel data; dynamic discrete choice; brand choice
The paper. examines theoretical and empirical issues arising in panel data studies of household bland choices. We develop a dynamic utility maximization model with habit formation that yields a discrete choice model that is linear in a vector of observable individual and brand characteristics, the lagged choice, an unobservable permanent individual/brand-specific effect, and an unobservable time-varying error component. We estimate the model using panel data on household yogurt purchases. We compare traditional estimation procedures with the method recently proposed by Honore and Kyriazidou. Panel data discrete choice models with lagged dependent variables, Econometrica 68 839-874. The methods' robustness with respect to underlying assumptions is investigated in Monte Carlo simulations. (C) 2001 Elsevier Science S.A. All rights reserved.
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