A HYBRID DISCRETE CHOICE MODEL OF DIFFERENTIATED PRODUCT DEMAND WITH AN APPLICATION TO PERSONAL COMPUTERS
提出一种混合离散选择模型，区分品牌层面和产品层面的差异化，并用个人电脑数据验证模型，发现企业会在并购后重新定位品牌。
In this article, I consider a new discrete choice model of differentiated product demand that distinguishes a brand‐level differentiation from a product‐level differentiation. The model is a hybrid of the random coefficient logit model of Berry et al. ( Econometrica 63 (1995), 841–90) and the pure characteristics model of Berry and Pakes ( International Economic Review 48 (2007), 1193–1225) and describes markets where firms offer multiple products of different qualities under the same brand name. I compare the hybrid model with existing models using data on personal computers. Using the estimates of the hybrid model, I also provide empirical evidence that firms reposition their brands in a postmerger market.