主题:Demand Analysis under Price Rigidity and Endogenous Assortment: An Application to China’s Tobacco Industry
主讲:刘辉 讲师 天津大学马寅初经济学院
时间:2024年6月11日 13:30-15:00
地点:经济学院714会议室
内容简介:We observe nominal price rigidity in tobacco markets across China. The monopolistic seller responds by adjusting product assortments, which remain unobserved by the analyst. We develop and estimate a random coefficient demand model that incorporates assortment discrimination and nominal price rigidity. Our empirical findings indicate that consumers are much more responsive to price changes than predicted by a conventional model. Simulated tax increases reveal that neglecting the role of endogenous assortments results in underestimations of the decline in higher-tier product sales, incorrect directional predictions of lower-tier product sales, and overestimation of tax revenue by more than 50%.
个人简介:刘辉,天津大学马寅初经济学院讲师,毕业于多伦多大学,获得经济学博士学位。他的主要研究领域包括产业组织和应用计量经济学。目前,他的工作重点是扩展BLP模型并进行算法优化研究。