Estimation of Random Coefficient Demand Models: Challenges, Difficulties and Warnings
---- Acknowledgements -----
We have benefited greatly from conversations with Steve Berry, Severin Borenstein, Michael Greenstone, Phil Haile, Aviv Nevo, Hal White, Frank Wolak, Catherine Wolfram, and seminar participants at the University of Calgary, University of California at Berkeley, the University of California Energy Institute, and the 2008 NBER Winter IO meeting. Metaxoglou acknowledges financial support from Bates White, LLC. We are also grateful to Bates White, LLC for making their computing resources available. All remaining errors are ours. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.