Title: Asymptotics for differentiated product demand/supply systems with many markets in the presence of national micro moments
Authors: Yuichiro Kanazawa - International Christian University (Japan)
Yuichiro Kanazawa - International Christian University (Japan) [presenting]
Abstract: Asymptotic properties have been previously derived for an estimator of a supply and demand model in a single market extended with additional moments relating consumer demographics to the characteristics of purchased products as the number of available products increases. We investigate similar asymptotic properties for supply and demand models as researchers observe many more markets and at the same time, national micro moments are available to them. We provide conditions guaranteeing the asymptotic theorems hold for the random coefficient logit model of demand with oligopolistic suppliers. Extensive simulation studies demonstrate significant benefits of the micro moments in estimating the random coefficient logit model.