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The Dynamics of Productivity in the Telecommunications Equipment Industry
Technological change and deregulation have caused a major restructuring of the telecommunications equipment industry over the last two decades. We estimate the parameters of a production function for
Automobile Prices in Market Equilibrium
This paper develops techniques for empirically analyzing demand and supply in differentiated product markets and then applies these techniques to the U.S. automobile industry. The authors' framework
Markov-Perfect Industry Dynamics: A Framework for Empirical Work
This paper provides a model of firm and industry dynamics that allows for entry, exit and firm-specific uncertainty generating variability in the fortunes of firms. It focuses on the impact of
Simulation and the Asymptotics of Optimization Estimators
A general central limit theorem is proved for estimators defined by minimization of the length of a vector-valued, random criterion function. No smoothness assumptions are imposed on the criterion
Econometric Tools for Analyzing Market Outcomes
This paper outlines recently developed techniques for estimating the primitives needed to empirically analyze equilibrium interactions and their implications in oligopolistic markets and concludes with a brief discussion of some of the problems I.O. researchers encountered in using the prior approaches.
Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market
This paper shows how to use “second‐choice” data on automotive purchases to obtain good estimates of substitution patterns in the automobile industry and uses these estimates to make out‐of‐sample predictions about important recent changes in industry structure.
Computing Markov Perfect Nash Equilibria: Numerical Implications of a Dynamic Differentiated Product Model
This paper provides an algorithm for computing Markov Perfect Nash Equilibria (Maskin and Tirole, 1988a and b) for dynamic models that allow for heterogeneity among firms and idiosyncratic (or firm
A Reconsideration of Hedonic Price Indexes with an Application to Pc's
This paper provides a justification for hedonic price indices and details the properties of hedonic price functions. The analysis is done in a market setting in which a finite number of goods, each
How to Count Patents and Value Intellectual Property: Uses of Patent Renewal and Application Data
Estimates of how the value of patent protection would vary under alternative legal rules and renewal fees, and with estimates of the international flows of returns from the patent system are illustrated.
Estimates of the Value of Patent Rights in European Countries During Thepost-1950 Period
This paper examines the distribution of the values of patent rights in the United Kingdom, France, and Germany during the post-1950 period. These values are inferred from the behavior of patentees