Estimation of Random-Coefficient Demand Models: Two Empiricists' Perspective
We document the numerical challenges we experienced estimating random-coefficient demand models as in Berry, Levinsohn, and Pakes (1995) using two well-known data sets and a thorough optimization design. The optimization algorithms often converge at points where the first- and second-order optimalit...
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
MIT Press,
2014-06-13T16:09:22Z.
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| Subjects: | |
| Online Access: | Get fulltext |