TY  - JOUR
AU  - Berry,Steven
AU  - Levinsohn,James
AU  - Pakes,Ariel
TI  - Automobile Prices in Market Equilibrium: Part I and II
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 4264
PY  - 1996
Y2  - July 1996
UR  - http://www.nber.org/papers/w4264
L1  - http://www.nber.org/papers/w4264.pdf
N1  - Author contact info:
Steven T. Berry
Yale University Department of Economics
Box 208264
37 Hillhouse Avenue
New Haven, CT 06520-8264
Tel: 203/432-3556
Fax: 203/432-6323
E-Mail: steven.berry@yale.edu

James A. Levinsohn
Yale School of Management
PO Box 208200
New Haven, CT  06520
Tel: 734/763-2319
Fax: 734/764-2769
E-Mail: James.Levinsohn@yale.edu

Ariel Pakes
Department of Economics
Harvard University
Littauer Room 117
Cambridge, MA 02138
Tel: 617/495-5320
Fax: 617/496-7352
E-Mail: apakes@fas.harvard.edu
AB  - This paper develops new techniques for empirically analyzing demand and supply in differentiated products markets and then applies these techniques to analyze equilibrium in the U.S. automobile industry. Our primary goal is to present a framework which enables one to obtain estimates of demand and cost parameters for a broad class of oligopolistic differentiated products markets. These estimates can be obtained using only widely available product-level and aggregate consumer-level data, and they are consistent with a structural model of equilibrium in an oligopolistic industry. When we apply the techniques developed here to the U.S. automobile market. we obtain cost and demand parameters for (essentially) all models marketed over a twenty year period.
ER  -