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...
| Main Authors: | , |
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| Format: | Article |
| Language: | en_US |
| Published: |
MIT Press
2014
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| Online Access: | http://hdl.handle.net/1721.1/87770 https://orcid.org/0000-0002-7654-8641 |