Demand Elasticities from a Discrete Choice Model: The Natural Christmas Tree Market
展示了一种利用家庭数据估计市场需求弹性的方法，克服了样本选择性问题，并首次估计出天然圣诞树的自价格弹性为-0.674，与人工圣诞树的交叉价格弹性为0.188。
Abstract A procedure is demonstrated for estimating market‐level demand elasticities from household data suffering from sample selectivity problems. The procedure uses McFadden's nested multinomial logit model and is applied to the natural Christmas tree market. Results indicate that the own‐price elasticity of natural Christmas trees is −0.674 and the cross price elasticity of natural Christmas trees with respect to artificial Christmas trees is 0.188. These are the first known demand elasticity estimates for the natural Christmas tree market.