BIBLIOTECA MANUEL BELGRANO - Facultad de Ciencias Económicas - UNC

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The effects of product ageing on demand : the case of digital cameras / Weifang Lou, David Prentice & Xiangkang Yin.

Por: Colaborador(es): Tipo de material: TextoTextoSeries Discussion papers (La Trobe University. School of Business). Series A ; no. 08.06Detalles de publicación: Bundoora, Vic. : La Trobe University. School of Business, 2008Descripción: 42 pISBN:
  • 9781921377518
Tema(s): Clasificación CDD:
  • 21 681.418
Recursos en línea: Resumen: The static differentiated product demand model when applied to products with rapid product turnover and declining prices, yields implausible results. One response is to explicitly model the inter-temporal choices of consumers but computational demands require restrictive assumptions on consumer heterogeneity and limits on the characteristics included in the model. We propose, instead, to supplement the static model with a control for the age that each product has been in the market. This approach is applied to the US digital camera market and we find we obtain more plausible estimates. Our results are consistent with inter-temporal price discrimination by firms. Furthermore, our results suggest that ignoring the effects of product ageing may result in substantially overestimated price elasticities and technological progress and underestimated price-cost markups.
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Documento Documento Biblioteca Manuel Belgrano F 681.418 L 21068 (Navegar estantería(Abre debajo)) Disponible 21068 F

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The static differentiated product demand model when applied to products with rapid product turnover and declining prices, yields implausible results. One response is to explicitly model the inter-temporal choices of consumers but computational demands require restrictive assumptions on consumer heterogeneity and limits on the characteristics included in the model. We propose, instead, to supplement the static model with a control for the age that each product has been in the market. This approach is applied to the US digital camera market and we find we obtain more plausible estimates. Our results are consistent with inter-temporal price discrimination by firms. Furthermore, our results suggest that ignoring the effects of product ageing may result in substantially overestimated price elasticities and technological progress and underestimated price-cost markups.

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