Quantifying the Benefits of New Products: The Case of the Minivan

By Amil Petrin. 2002

1,126 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Marketing

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Citations in the corpus

Counterfactual inference for consumer choice across many product categories (2019, methodology): “Analysts have applied the discrete choice framework to a variety of different types of data sets, including aggregate, market-level data (see, e.g., Berry et al. (1995), Nevo (2001), and Petrin (2002)) 1 , as well as data from individual choices for a cross-section of individuals.”
Estimation of random coefficients logit demand models with interactive fixed effects (2012, methodology): “This model and estimation approach has proven very popular (e.g. Nevo (2001), Petrin (2002); surveyed in Ackerberg et. al.”
Measuring Substitution Patterns in Diﬀerentiated-Products Industries (2019, neutral): “On the other hand if Aj(xt) is only weakly correlated with the slope of the residual function, standard asymptotic theoretical results break down, and θ̂gmm is not consistent and has a non-standard asymptotic distribution (see Stock and Wright (2000)).”
Econometric Tools for Analyzing Market Outcomes (2007, background): “Petrin (2002), for example, reports large differences in consumer surplus gains from differences in specifications and data sources.”
ESTIMATING THE GENERAL EQUILIBRIUM BENEFITS OF LARGE CHANGES IN SPATIALLY DELINEATED PUBLIC GOODS (2004, background): “However, additive separable error terms also often undermine the welfare calculations as discussed in detail in Petrin (2002).”
Best practices for differentiated products demand estimation with PyBLP (2020, methodology): “The BLP model and its variants have been used in a wide variety of applications: understanding the value of new goods (Petrin, 2002), the price effects of mergers (Nevo, 2001, 2000a), and two-sided markets (Fan, 2013) and (Lee, 2013).”
How Much Is a Reduction of Your Customers' Wait Worth? An Empirical Study of the Fast-Food Drive-Thru Industry Based on Structural Estimation Methods (2011, neutral): “This approach has been used in industrial organization studies by Petrin (2002) and Davis (2006).”
The Pure Characteristics Demand Model (2007, neutral): “Petrin (2002), and MicroBLP).”
THE CONSUMER GAINS FROM DIRECT BROADCAST SATELLITES AND THE COMPETITION WITH CABLE TV (2004, methodology): “First, we maximize the likelihood function using the household level data and including the separate product specific 24See the discussions in Hausman and Wise (1978), Berry, Levinsohn, and Pakes (1995), Berry and Pakes (1999), Petrin (2002), Train (1986), or Bajari and Benkard (2001).”
Discrete Choice Methods with Simulation by Kenneth E. Train (2003, background): “For researchers who are concerned about the possibility of endogeneity in customer-level models, Petrin and Train (2002) provide a useful discussion and application of the methods.”
Automobile Replacement: A Dynamic Structural Approach (2011, background): “Empirical models of demand for durable goods have focused mostly on the market for new cars (See Berry, Levinshon and Pakes 1995 henceforth BLP; Bresnahan 1981; Goldberg 1995; Petrin 2002).”
Consumer Learning and Heterogeneity: Dynamics of Demand for Prescription Drugs after Patent Expiration (2010, neutral): “This generates exogenous variation in prices and choice sets, which help identify the price coefficients and the extent of consumer heterogeneity (π0) (Petrin[47]), respectively.”
Trucks without Bailouts: Equilibrium Product Characteristics for Commercial Vehicles (2018, background): “The degree of heterogeneity may be of some surprise, although these purchase patterns are not atypical (and are certainly inline with the Petrin (2002) findings that relate family size to minivan purchase).”
Accounting for Incomplete Pass-Through (2009, positive): “1 of Petrin (2002b). We used first-stage estimates of the parameters to calculate the part of the variance-covariance matrix associated with the mean utilities using the standard GMM formulas.”
A Control Function Approach to Endogeneity in Consumer Choice Models (2010, neutral): “…demand equations as a source of information on the unobserved demand factor, and has been applied to consumers' choice among TV options (Crawford, 2000; Goolsbee and Petrin (2004)), minivans (Petrin, 2002), and grocery goods (Nevo, 2001), Chintagunta, Dubé, and Goh, 2005), to name only a few.”
High Performance Quadrature Rules: How Numerical Integration Affects a Popular Model of Product Differentiation (2011, methodology): “24Some researchers specify log (yi − pjt) instead of (yi − pjt) to capture income effects (Petrin, 2002). that the utility is homogeneous of degree zero.”