A Gibbs sampler for mixed logit analysis of differentiated product markets using aggregate data

In this paper, we offer the Gibbs sampler as an alternative to the GMM estimator developed by Berry, Levinsohn, and Pakes (Econometrica 63(4), 841–890, 1995) in their equilibrium differentiated product market analysis of the automobile industry. We use the GMM objective as the basis for forming a po...

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Bibliographic Details
Published in:	Computational economics Vol. 29; no. 1; pp. 33 - 68
Main Author:	Romeo, Charles
Format:	Journal Article
Language:	English
Published:	Dordrecht Society for Computational Economics 01-02-2007 Springer Nature B.V
Series:	Computational Economics
Subjects:	Algorithms Approximation Automobile industry Bayesian analysis C11 C15 C33 Computational methods Costs Data aggregation Differentiated product markets Economic research Economic theory Empirical research Equilibrium Estimation Generalized method of moments Gibbs sampler Market analysis Market shares Mixed logit Product differentiation Sample variance Sampling Studies Taste
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