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Discrete Choice Models and Consumer Behavior

2019/2020
Учебный год
ENG
Обучение ведется на английском языке
3
Кредиты
Статус:
Курс по выбору
Когда читается:
4-й курс, 2 модуль

Course Syllabus

Abstract

The purpose of the course "Discrete Choice Models and Consumer Behavior" is to give students the skills to use econometrics in practice, to show the relationship between econometric theory and microeconomic theory of consumer behavior with everyday economic problems of demand estimation, to give a fundamental idea of applied empirical industrial organization as a branch of economic science.
Learning Objectives

Learning Objectives

  • Apply their knowledge and understanding of the science of behavior to real world situations
  • Demonstrate a wide range of generic skills, including skills in communication, information processing, teamwork, critical and creative thinking, computing independent learning
Expected Learning Outcomes

Expected Learning Outcomes

  • Know basic theoretical models of consumer choice and utility maximization
  • Link between type of preferences and utility function
  • Specify an econometric model of demand to fit the data and consumer preferences
  • Use statistical packages to calibrate parameters of demand model Interpret parameters of calibrated model
Course Contents

Course Contents

  • Marshallian demand
    Classic consumer utility maximization problem. Linkage between properties of demand and utility functions, conditions for corner solutions
  • Demand systems
    Linear expenditure demand system, CES demand system.
Assessment Elements

Assessment Elements

  • non-blocking in-class participation
  • non-blocking written assignments 1
  • non-blocking written assignments 2
  • non-blocking exam
Interim Assessment

Interim Assessment

  • Interim assessment (2 module)
    0.4 * exam + 0.2 * in-class participation + 0.2 * written assignments 1 + 0.2 * written assignments 2
Bibliography

Bibliography

Recommended Core Bibliography

  • Jean-Pierre H. Dubé. (2018). Microeconometric Models of Consumer Demand. NBER Working Papers. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.nbr.nberwo.25215

Recommended Additional Bibliography

  • Patrick Bajari, Denis Nekipelov, Stephen P. Ryan, & Miaoyu Yang. (2015). Demand Estimation with Machine Learning and Model Combination. NBER Working Papers. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.nbr.nberwo.20955