Estimating Price Elasticities with Nonlinear Errors in Variables
用灵活的需求函数(多项式/三角函数)处理调查数据中价格观测误差,发现价格弹性随价格分布变化,弥补了线性模型的不足。
Abstract—This paper estimates a price elasticity using a flexible demand specification on survey data where prices are observed with errors and are correlated with household characteristics. The demand function is mod-eled as a polynomial/trigonometric in the unobserved true prices, and the form of the dependency between the observed prices and household characteristics is modeled parametrically. I identify and estimate the model by adapting the approach of Hausmann et al. (1991) and Schennach (2004). The flexible specifications allow us to observe that price elastic-ities vary across the price distribution, something missed in previous work using linear demand specifications. I.