Recent Advances in Structural Econometric Modeling: Dynamics, Product Positioning and Entry |
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Authors: | Jean-Pierre Dubé K Sudhir Andrew Ching Gregory S Crawford Michaela Draganska Jeremy T Fox Wesley Hartmann Günter J Hitsch V Brian Viard Miguel Villas-Boas Naufel Vilcassim |
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Institution: | (1) Graduate School of Business, University of Chicago, 5807 South Woodlawn Ave, Chicago, IL, 60637;(2) School of Management, Yale University, USA;(3) Rotman School of Management, University of Toronto, Toronto;(4) University of Arizona, Arizona;(5) Graduate School of Business, Stanford University, Stanford;(6) University of Chicago, Chicago;(7) Graduate School of Business, University of Chicago, Chicago;(8) Stanford University, Stanford;(9) Haas School of Business, University of California, California;(10) London Business School, London |
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Abstract: | In the empirical analysis of consumer markets, recent literature has begun to explore the dynamics in both consumer decisions
as well as in firms' marketing policies. Other research has begun to explore the strategic aspects of product line design
in a competitive environment. In both cases, structural models have given us new insights into consumer and firm behavior.
For example, incorporating consumer and firm dynamics may help explain patterns in our data that are not well-captured by
static models. Similarly, the strategic aspects of firm entry and product-positioning may be intrinsically linked to firm
conduct and the intensity of competition in a market. Structural analysis of these consumer and firm decisions raise a number
of substantial computational challenges. We discuss the computational challenges as well as specific empirical applications.
The discussions are based on the session “Structural Models of Strategic Choice” from the 2004 Choice Symposium. |
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Keywords: | entry dynamics market structure product positioning structural models |
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