Empirical Industrial Organization: Economics 781

Transcription

1 Holger Sieg University of Pennsylvania Fall 2015 Empirical Industrial Organization: Economics 781 COURSE DESCRIPTION: The course provides an introduction to recent methods and applications in empirical industrial organization. Grades will be based on two take-home computational assignments and class participation and a presentation of an assigned paper. TOPICS: 1. Motivation: Reiss, P., and Wolak, F. (2006): Structural Econometric Modeling: Rationales and Examples from Industrial Organization, Handbook of Econometrics, volume Static Discrete Demand and Supply Models of Product Differentiation: Berry, S. (1994), Estimating Discrete-Choice Models of Product Differentiation, Rand Journal of Economics, 25(2), Berry, S, Levinsohn, J. and A. Pakes (1995), Automobile Prices in Equilibrium, Econometrica, 63(4), Berry, S., Linton, O. and A. Pakes (2004), Limit Theorems for Estimating the Parameters of Differentiated Product Demand Models, Review of Economic Studies, 71(3), Berry, S., J. Levinsohn, and A. Pakes, (2004): Differentiated Product Demand Systems From a Combination of Micro and Macro Data: The New Car Market, Journal of Political Economy, 112(1),

2 Imbens, G. and J. Woolridge (2007), Discrete Choice, NBER Lecture Notes 11. Available at Steven Berry and Philip Haile (2011) Identification in Differentiated Products Markets Using Market Level Data. Working Paper. 3. Productivity and Production Functions: Olley, G. Steven, and Ariel Pakes (1996). The Dynamics of Productivity in the Telecommunications Equipment Industry. Econometrica, 64(6): Blundell, Richard, and Stephen Bond (1998). Initial Conditions and Moment Restrictions in Dynamic Panel Data Models. Journal of Econometrics, 87(1): Levinsohn, James, and Amil Petrin (2003). Estimating Production Functions Using Inputs to Control for Unobservables. Review of Economic Studies, 70(2): Ackerberg, Daniel, Kevin Caves, and Garth Frazer. (2006) Structural Identification of Production Functions. Working Paper. Foster, L., J. Haltiwanger, and C. Syverson (2008), Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?, American Economic Review, (1):, de Loecker, Jan (2011), Product Differentiation, Multi-Product Firms and Estimating the Impact of Trade Liberalization on Productivity, Econometrica. 4. Static Discrete Games: Entry and Exit Breshnahan, T. and P. Reiss (1991), Entry in Monopoly Markets, Review of Economic Studies, 57 (4) Berry, S. (1992), Estimation of a Model of Entry in the Airline Industry, Econometrica, 60 (4), Tamer, E. (2003): Incomplete Simultaneous Discrete Response Model with Multiple Equilibria, Review of Economic Studies, 70(1),

3 Berry, Steven and Reiss, Peter (2006): Empirical Models of Entry and Market Structure Chapter for Volume III of the Handbook of Industrial Organization. Seim, K. (2006), An Empirical Model of Firm Entry with Endogenous Product- Type Choices, RAND Journal of Economics 37(3), Sweeting, A. (2009): The Strategic Timing of Radio Commercials: An Empirical Analysis Using Multiple Equilibria, RAND Journal of Economics, 40(4). Ciliberto, F. and E. Tamer (2009): Market Structure and Multiple Equilibria in Airline Markets, Econometrica, 77, Dynamic Discrete Choice Models Rust, J. (1994), Structural Estimation of Markov Decision Processes, in: Handbook of Econometrics IV, Hotz, J. and R. Miller (1993), Conditional Choice Probabilities and the Estimation of Dynamic Models. Review of Economic Studies, 60, Hotz, V. J., R. A. Miller, S. Sanders, and J. Smith (1994). A simulation estimator for dynamic models of discrete choice. The Review of Economic Studies 61 (2), Aguirregabiria, V. and Mehra, P. (2002), Swapping the Nested Fixed Point Algorithm: A Class of Estimators for Discrete Markov Decision Models, Econometrica, 70, Magnac, T. and D. Thesmar (2002), Identifying Dynamic Discrete Decision Processes, Econometrica, Vol. 70, No. 2 (March, 2002), Hendel, I. and A. Nevo (2006): Measuring the Implications of Sales and Consumer Stockpiling Behavior, Econometrica, 74(6), Holmes, T. (2010): Diffusion of Wal-Mart and Economies of Density, Econometrica, 79, Gowrisnkaran, G and Rysman, M. (2012) Dynamics of Consumer Demand for New Durable Goods. Journal of Political Economy, 120,

4 6. Dynamic Discrete Games: Models and Computation Pakes, Ariel and Paul McGuire (1994). Computing Markov-perfect Nash Equilibria: Numerical Implications of a Dynamic Differentiated Product Model, Rand Journal of Economics, 25, Ericson, R. and A. Pakes (1995), Markov Perfect Industry Dynamics: a Framework for Empirical Work, Review of Economic Studies, 62, Doraszelski, U. and M. Satterthwaite (2005): Foundations of Markov-Perfect Industry Dynamics: Existence, Purification, and Multiplicity, Working Paper. Doraszelski, Ulrich and Pakes, Ariel (2006): A Framework for Applied Dynamic Analysis in IO, in: Mark Armstrong and Robert Porter (eds.), Handbook of Industrial Organization, Volume 3, North-Holland, Amsterdam. Benkard, L., Weintraub, G. and B. Van Roy (2008), Markov Perfect Industry Dynamics with Many Firms, Econometrica, Nov, Dynamic Discrete Games: Estimation Ackerberg, D., L. Benkard, S. Berry, and A. Pakes (2006): Econometric Tools for Analyzing Market Outcomes, in: Handbook of Econometrics, volume 6. Victor Aguirregabiria and Pedro Mira, Sequential Estimation of Dynamic Discrete Games, Econometrica 75 (1) (2007), Bajari, P., L. Benkard, and J. Levin (2007): Estimating Dynamic Models of Imperfect Competition, Econometrica, Aguirregabiria, V. and P. Mira (2010): Dynamic Discrete Choice Structural Models: A Survey, Journal of Econometrics, forthcoming. 8. Dynamic Discrete Games: Applications Benkard, L. (2004): A Dynamic Analysis of the Market for Wide-Bodied Commercial Aircraft Market, Review of Economics Studies, 71,

5 Goettler, R and Gordon, B. (2011), Does AMD spur Intel to innovate more? Journal of Political Economy, 119(6), Ryan, S. (2012): The Costs of Environmental Regulation in a Concentrated Industry, Volume 80, Issue 3, May 2012, p Schmidt-Dengler, P. (2006): The Timing of New Technology Adoption: The Case of MRI, Working Paper. 9. Bargaining: Sieg (2000), Estimating a Bargaining Model with Asymmetric Information: Evidence from Medical Malpractice Disputes. Journal of Political Economy, 108 (5), Crawford, G. and Yurukoglu (2012). The Welfare Effects of Bundling in Multichannel Television Markets, American Economic Review.