Research:
- Identification and Estimation of Mixed Logit Models under Simulation Methods, with Joan L. Walker (Journal of Econometrics, December 2007)
Abstract. We present examples based on actual and synthetic datasets to illustrate how simulation methods can mask identification problems in the estimation of discrete choice models such as mixed logit. Simulation methods approximate an integral (without a closed form) by taking draws from the underlying distribution of the random variable of integration. Our examples reveal how a low number of draws can generate estimates that appear identified, but in fact, are either not theoretically identified by the model or not empirically identified by the data. For the particular case of maximum simulated likelihood estimation, we investigate the underlying source of the problem by focusing on the shape of the simulated log-likelihood function under different conditions. [pdf file]
- The Timing of Movie Releases: Evidence from the Home Video Industry (International Journal of Industrial Organization, forthcoming)
Abstract. In the movie industry, an intriguing question is why studios cluster their big theatrical hits during the Memorial Day or July 4th weekends in the early summer as opposed to the fall. This paper examines the home video industry to provide more evidence on whether booms in theatrical revenues are supply- or demand-driven. First, I find no evidence of segmentation within the home video market by genre or newness of videos. Secondly, my estimates of the seasonality within the home video market suggest that Memorial Day and July 4th may be more favorable for a theatrical release than Labor Day. [pdf file]
- Empirical Analysis of Retail Competition: Spatial Differentiation at Walmart, Amazon.com, and Their Competitors (under review)
Abstract. This paper quantifies the degree of competition and spatial differentiation across retail channels by exploiting a unique dataset that describes a consumer’s choice of store. I estimate a consumer’s choice of retailer in the sales market for DVDs among online, mass merchant, electronics, video specialty, and music stores. Using a discrete choice model, I allow for unobserved heterogeneity in preferences for store types and disutility of travel. A consumer’s traveling cost varies by income, and substitution occurs proportionately more among stores of the same type. Conditional on price and distance, the average consumer still prefers Wal-Mart over most other stores. [pdf file]
- Crossing the Line: Estimating the Effect of Cross Border Cigarette Sales on State Excise Taxes (with Erich Muehlegger)
- The Impact of Ticket Scalping in Performing Arts Markets (with Melissa Boyle)
- Anti-Scalping Laws and the Secondary Ticket Market (with Melissa Boyle)
Last modified: 30 January, 2008