TY - JOUR
T1 - Panel data analysis of household brand choices
AU - Chintagunta, Pradeep
AU - Kyriazidou, Ekaterini
AU - Perktold, Josef
PY - 2001/7
Y1 - 2001/7
N2 - The paper examines theoretical and empirical issues arising in panel data studies of household brand choices. We develop a dynamic utility maximization model with habit formation that yields a discrete choice model that is linear in a vector of observable individual and brand characteristics, the lagged choice, an unobservable permanent individual/brand-specific effect, and an unobservable time-varying error component. We estimate the model using panel data on household yogurt purchases. We compare traditional estimation procedures with the method recently proposed by Honoré and Kyriazidou. Panel data discrete choice models with lagged dependent variables, Econometrica 68 839-874. The methods' robustness with respect to underlying assumptions is investigated in Monte Carlo simulations.
AB - The paper examines theoretical and empirical issues arising in panel data studies of household brand choices. We develop a dynamic utility maximization model with habit formation that yields a discrete choice model that is linear in a vector of observable individual and brand characteristics, the lagged choice, an unobservable permanent individual/brand-specific effect, and an unobservable time-varying error component. We estimate the model using panel data on household yogurt purchases. We compare traditional estimation procedures with the method recently proposed by Honoré and Kyriazidou. Panel data discrete choice models with lagged dependent variables, Econometrica 68 839-874. The methods' robustness with respect to underlying assumptions is investigated in Monte Carlo simulations.
KW - Brand choice
KW - Dynamic discrete choice
KW - Panel data
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U2 - 10.1016/S0304-4076(01)00041-0
DO - 10.1016/S0304-4076(01)00041-0
M3 - Article
AN - SCOPUS:0347768036
VL - 103
SP - 111
EP - 153
JO - Journal of Econometrics
JF - Journal of Econometrics
SN - 0304-4076
IS - 1-2
ER -