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Product Variety, Across-Market Demand Heterogeneity, and the Value of Online Retail

Thomas Quan, Kevin Williams
2018 Social Science Research Network  
However, the large choice set leads to many products having zero local market shares.  ...  Failing to account for across-market heterogeneity overstates the consumer welfare gain from increased online product variety.  ...  For each counterfactual choice set, location level choice probabilities are then calculated according to Equation 3.1.  ... 
doi:10.2139/ssrn.3192621 fatcat:hpkogvapazdujfwr4ytd3hzka4

Estimating Heterogeneous Consumer Preferences for Restaurants and Travel Time Using Mobile Location Data [article]

Susan Athey, David Blei, Robert Donnelly, Francisco Ruiz, Tobias Schmidt
2018 arXiv   pre-print
for these latent characteristics, and these preferences are heterogeneous across users.  ...  Finally, we show how the model can be used to analyze counterfactual questions such as what type of restaurant would attract the most consumers in a given location.  ...  These are examples of questions about product design and product choice.  ... 
arXiv:1801.07826v1 fatcat:vh5mowrhang55jkdq3ikp3jtkm

Product Variety, Across-Market Demand Heterogeneity, and the Value of Online Retail

Thomas W. Quan, Kevin R Williams
2016 Social Science Research Network  
However, the large choice set leads to many products having zero local market shares.  ...  Failing to account for across-market heterogeneity overstates the consumer welfare gain from increased online product variety.  ...  For each counterfactual choice set, location level choice probabilities are then calculated according to Equation 3.1.  ... 
doi:10.2139/ssrn.2871513 fatcat:kxcjkknxlfdz3g65tpzwie7dsm

Product Variety, Across-Market Demand Heterogeneity, and the Value of Online Retail

Thomas W. Quan, Kevin R. Williams
2017 Social Science Research Network  
However, the large choice set leads to many products having zero local market shares.  ...  Failing to account for across-market heterogeneity overstates the consumer welfare gain from increased online product variety.  ...  For each counterfactual choice set, location level choice probabilities are then calculated according to Equation 3.1.  ... 
doi:10.2139/ssrn.2993236 fatcat:pchq6jnxxbh7diqqojwz5njbma

Product Variety, Across-Market Demand Heterogeneity, and the Value of Online Retail

Thomas W. Quan, Kevin R. Williams
2017 Social Science Research Network  
However, the large choice set leads to many products having zero local market shares.  ...  Failing to account for across-market heterogeneity overstates the consumer welfare gain from increased online product variety.  ...  For each counterfactual choice set, location level choice probabilities are then calculated according to Equation 3.1.  ... 
doi:10.2139/ssrn.3052237 fatcat:mhipmdsg7bdcvhncc5czvypmom

Market stealing and market expansion: an examination of product introductions in the organic coffee market

Richard Friberg, Mark Sanctuary
2017 Environmental Economics and Policy Studies  
Market shares for organic products remain modest despite broad professed consumer interest in purchasing organic products.  ...  We use counterfactual product introductions in an estimated demand model to systematically explore the links between product assortment and the market share for organic products.  ...  Introducing this new synthetic product changes the ranking of the choice probabilities across households and these new choice probabilities are then used to compute the counterfactual market shares for  ... 
doi:10.1007/s10018-017-0194-5 fatcat:crtvlbm6ljgehix7ashxemzz4i

Short-Run Needs and Long-Term Goals: A Dynamic Model of Thirst Management

Guofang Huang, Ahmed Khwaja, K. Sudhir
2015 Marketing science (Providence, R.I.)  
Our attribute-need match model enables us to assess unmet demand for new products with attributes that match co-occurring occasion-specific needs.  ...  B everage consumption occurs many times a day in response to short-run needs that fluctuate.  ...  The conventional product or brand choice model uses information on purchases to make inferences about the utility consumers attach to various attributes of a product.  ... 
doi:10.1287/mksc.2015.0939 fatcat:fvthk7dopnhmtfigwdq4fjlpem

Short Run Needs and Long Term Goals: A Dynamic Model of Thirst Management

Yale Cowles Submitter, Guofang Huang, Ahmed Khwaja, K. Sudhir
2012 Social Science Research Network  
A novel feature of the model is that it allows for dynamics of consumption and stockpiling at the level of product attributes.  ...  The model is used to evaluate introduction of new products in the beverage category and gain insight into the linkage between selfregulation and excess consumption.  ...  The conventional product or brand choice model uses information on purchases to make inferences about the utility consumers attach to various attributes of a product.  ... 
doi:10.2139/ssrn.2028006 fatcat:ap7op3tzbngs7ddai3jdz726gi

Identification and Estimation of Forward-Looking Behavior: The Case of Consumer Stockpiling

Andrew T. Ching, Matthew Osborne
2020 Marketing science (Providence, R.I.)  
In an application to a storable good category, we find that weekly discount factors are very heterogeneous across consumers, and are on average 0.71.  ...  depth for a product on its quantity sold by 18% in the short-term, and 15% in the long-term.  ...  In many product categories, it may take consumers many periods to use up a package, meaning that the exclusion restrictions should hold for many values of inventory.  ... 
doi:10.1287/mksc.2019.1193 fatcat:mkgrko227nfbxcgi4tjai23quy

The choice at the checkout: Quantifying demand across payment instruments

Ron Borzekowski, Elizabeth K. Kiser
2008 International Journal of Industrial Organization  
The estimates are used to conduct several counterfactual experiments that predict consumer responses to alternative payment choices.  ...  Using a new nationally representative survey, we transform consumers' responses to open-ended questions on reasons for using debit cards to estimate a characteristics-based discrete-choice demand model  ...  product attributes allow the utility from product attributes to vary across consumers.  ... 
doi:10.1016/j.ijindorg.2007.07.006 fatcat:yb5kvh5dsrd4xcxbc7ehziwchq

The Choice at the Checkout: Quantifying Demand Across Payment Instruments

Ron Borzekowski, Elizabeth K. Kiser
2006 Social Science Research Network  
The estimates are used to conduct several counterfactual experiments that predict consumer responses to alternative payment choices.  ...  Using a new nationally representative survey, we transform consumers' responses to open-ended questions on reasons for using debit cards to estimate a characteristics-based discrete-choice demand model  ...  product attributes allow the utility from product attributes to vary across consumers.  ... 
doi:10.2139/ssrn.910880 fatcat:4mikhknrj5crdb3fupo5mrw7c4

The Economic Impact of Removing GEO-Blocking Restrictions in the EU Digital Single Market

NNstor Duch-Brown, Bertin Martens
2016 Social Science Research Network  
Specifically, we define the counterfactual choice setwhere a number of products are added to the observed choice setsas = ′ + , where ′ is the modified domestic choice set, where a number of highly priced  ...  These counterfactuals can be conceptualised as a two-stage game. In the first stage, consumers change behaviour and opt for price and variety arbitrage across country markets.  ...  1 Calculated with data covering 4 product categories and ten countries for the period January 2012 to march 2015.  ... 
doi:10.2139/ssrn.2783647 fatcat:iqdvlavavzaulitj7bba4d43ym

Learning Counterfactual Representations for Estimating Individual Dose-Response Curves

Patrick Schwab, Lorenz Linhardt, Stefan Bauer, Joachim M. Buhmann, Walter Karlen
2020 PROCEEDINGS OF THE THIRTIETH AAAI CONFERENCE ON ARTIFICIAL INTELLIGENCE AND THE TWENTY-EIGHTH INNOVATIVE APPLICATIONS OF ARTIFICIAL INTELLIGENCE CONFERENCE  
Here, we present a novel machine-learning approach towards learning counterfactual representations for estimating individual dose-response curves for any number of treatments with continuous dosage parameters  ...  However, existing methods for learning to estimate counterfactual outcomes from observational data are either focused on estimating average dose-response curves, or limited to settings with only two treatments  ...  However, performing prospective experiments is expensive, time-consuming, and, in many cases, ethically not justifiable (Schafer 1982) .  ... 
doi:10.1609/aaai.v34i04.6014 fatcat:mo5gjowsznc2haxsedda4jptc4

The Evolving Food Chain: Competitive Effects of Wal-Mart's Entry into the Supermarket Industry

Emek Basker, Michael Noel
2009 Journal of Economics and Management Strategy  
Wal-Mart's price advantage over competitors for these products averages approximately 10%.  ...  We use OLS and two IV specifications to estimate the effect of Wal-Mart's entry on competitors' prices of 24 grocery items across several categories.  ...  The former entails learning across patients, while the latter is primarily within a patient. Preliminary results suggest that prescription choice is sensitive to many sources of information.  ... 
doi:10.1111/j.1530-9134.2009.00235.x fatcat:aqesnkblojetlpljktqtzuerhi

The Evolving Food Chain: Competitive Effects of Wal-Mart's Entry into the Supermarket Industry

Emek Basker, Michael D. Noel
2007 Social Science Research Network  
Wal-Mart's price advantage over competitors for these products averages approximately 10%.  ...  We use OLS and two IV specifications to estimate the effect of Wal-Mart's entry on competitors' prices of 24 grocery items across several categories.  ...  The former entails learning across patients, while the latter is primarily within a patient. Preliminary results suggest that prescription choice is sensitive to many sources of information.  ... 
doi:10.2139/ssrn.994460 fatcat:bwgsshwq2fffrmxs2q4tabqmhy
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