The Experts below are selected from a list of 9561 Experts worldwide ranked by ideXlab platform
Margaret Pierson - One of the best experts on this subject based on the ideXlab platform.
-
how much is a reduction of your customers wait worth an Empirical study of the fast food drive thru industry based on structural estimation methods
2011Co-Authors: Gad Allon, Awi Federgruen, Margaret PiersonAbstract:In many service industries, companies compete with each other on the basis of the waiting time their customers experience, along with other strategic instruments such as the price they charge for their service. The objective of this paper is to conduct an Empirical study of an important industry to measure to what extent waiting time performance impacts different firms’ market shares and price decisions. We report on a large-scale Empirical Industrial Organization study in which the demand equations for fast-food drive-thru restaurants in Cook County are estimated based on so-called structural estimation methods. Our results confirm the belief expressed by industry experts, that in the fast-food drive-thru industry customers trade off price and waiting time. More interestingly, our estimates indicate that consumers attribute a very high cost to the time they spend waiting.
-
does it pay to reduce your customers wait an Empirical Industrial Organization study of the fast food drive thru industry based on structural estimation methods
2009Co-Authors: Gad Allon, Awi Federgruen, Margaret PiersonAbstract:In many service industries, companies compete with each other on the basis of the waiting time their customers’ experience, along with other strategic instruments such as the price they charge for their service. The objective of this paper is to conduct, what we believe to be the first, Empirical study of an important industry to test whether and to what extent waiting time performance measures impact different firms’ market shares and price decisions. We report on a large scale Empirical Industrial Organization study in which the demand equations for fast-food drive-thru restaurants in Cook County are estimated based on so-called structural estimation methods. Our results confirm the belief expressed by industry experts, that in the fast-food drive-thru industry customers trade off price and waiting time. More interestingly, our estimates indicate that consumers attribute a very high cost to the time they spend waiting.
Jonathan Levin - One of the best experts on this subject based on the ideXlab platform.
-
Empirical Industrial Organization a progress report
2012Co-Authors: Jonathan Levin, Liran EinavAbstract:The article sketches how the field of Industrial Organization has evolved to its current state, in particular how the emphasis has shifted over time from attempts to relate aggregate measures across industries toward more focused studies of individual industries. The authors describe several active areas of inquiry, discuss some of the impacts of this research and specify topics where research efforts have been more or less successful. They also address some current debates about research emphasis in the field, and more broadly about Empirical methods, and offer some ideas on where future research might go.
-
Empirical Industrial Organization a progress report
2010Co-Authors: Liran Einav, Jonathan LevinAbstract:The fi eld of Industrial Organization has made dramatic advances over the last few decades in developing Empirical methods for analyzing imperfect last few decades in developing Empirical methods for analyzing imperfect competition and the Organization of markets. These new methods have competition and the Organization of markets. These new methods have diffused widely: into merger reviews and antitrust litigation, regulatory decision diffused widely: into merger reviews and antitrust litigation, regulatory decision making, price setting by retailers, the design of auctions and marketplaces, and making, price setting by retailers, the design of auctions and marketplaces, and into neighboring fi elds in economics, marketing, and engineering. Increasing into neighboring fi elds in economics, marketing, and engineering. Increasing access to fi rm-level data and in some cases the ability to cooperate with fi rms or access to fi rm-level data and in some cases the ability to cooperate with fi rms or governments in experimental research designs is offering new settings and opporgovernments in experimental research designs is offering new settings and opportunities to apply these ideas in Empirical work. tunities to apply these ideas in Empirical work. This essay begins with a sketch of how the fi eld has evolved to its current state, This essay begins with a sketch of how the fi eld has evolved to its current state, in particular how the fi eld’s emphasis has shifted over time from attempts to relate in particular how the fi eld’s emphasis has shifted over time from attempts to relate aggregate measures across industries toward more focused studies of individual aggregate measures across industries toward more focused studies of individual industries. The second and primary part of the essay describes several active areas industries. The second and primary part of the essay describes several active areas of inquiry. While this is in some sense a survey, our goal is not to be comprehenof inquiry. While this is in some sense a survey, our goal is not to be comprehensive but to highlight key ideas and illustrate how modern research has approached sive but to highlight key ideas and illustrate how modern research has approached different problems. We also discuss some of the impacts of this research and specify different problems. We also discuss some of the impacts of this research and specify topics where research efforts have been more or less successful. The last section topics where research efforts have been more or less successful. The last section steps back to offer a broader perspective. We address some current debates about steps back to offer a broader perspective. We address some current debates about research emphasis in the fi eld, and more broadly about Empirical methods, and research emphasis in the fi eld, and more broadly about Empirical methods, and offer some thoughts on where future research might go. offer some thoughts on where future research might go.
-
Empirical Industrial Organization a progress report
2010Co-Authors: Liran Einav, Jonathan LevinAbstract:The field of Industrial Organization has made dramatic advances over the last few decades in developing Empirical methods for analyzing imperfect competition and the Organization of markets. We describe the motivation for these developments and some of the successes. We also discuss the relative emphasis that applied work in the field has placed on economic theory relative to statistical research design, and the possibility that a focus on methodological innovation has crowded out applications. We offer some suggestions about how the field may progress in coming years.
Gad Allon - One of the best experts on this subject based on the ideXlab platform.
-
how much is a reduction of your customers wait worth an Empirical study of the fast food drive thru industry based on structural estimation methods
2011Co-Authors: Gad Allon, Awi Federgruen, Margaret PiersonAbstract:In many service industries, companies compete with each other on the basis of the waiting time their customers experience, along with other strategic instruments such as the price they charge for their service. The objective of this paper is to conduct an Empirical study of an important industry to measure to what extent waiting time performance impacts different firms’ market shares and price decisions. We report on a large-scale Empirical Industrial Organization study in which the demand equations for fast-food drive-thru restaurants in Cook County are estimated based on so-called structural estimation methods. Our results confirm the belief expressed by industry experts, that in the fast-food drive-thru industry customers trade off price and waiting time. More interestingly, our estimates indicate that consumers attribute a very high cost to the time they spend waiting.
-
does it pay to reduce your customers wait an Empirical Industrial Organization study of the fast food drive thru industry based on structural estimation methods
2009Co-Authors: Gad Allon, Awi Federgruen, Margaret PiersonAbstract:In many service industries, companies compete with each other on the basis of the waiting time their customers’ experience, along with other strategic instruments such as the price they charge for their service. The objective of this paper is to conduct, what we believe to be the first, Empirical study of an important industry to test whether and to what extent waiting time performance measures impact different firms’ market shares and price decisions. We report on a large scale Empirical Industrial Organization study in which the demand equations for fast-food drive-thru restaurants in Cook County are estimated based on so-called structural estimation methods. Our results confirm the belief expressed by industry experts, that in the fast-food drive-thru industry customers trade off price and waiting time. More interestingly, our estimates indicate that consumers attribute a very high cost to the time they spend waiting.
Ariel Pakes - One of the best experts on this subject based on the ideXlab platform.
-
a helicopter tour of some underlying issues in Empirical Industrial Organization
2021Co-Authors: Ariel PakesAbstract:This review considers conceptual issues underlying Empirical work on markets. It is divided in three parts. The first part reviews the analysis of demand and equilibrium in retail markets and then ...
-
a helicopter tour of some underlying issues in Empirical Industrial Organization
2020Co-Authors: Ariel PakesAbstract:The paper considers conceptual issues underlying Empirical work on markets. It has three parts. The first reviews the analysis of demand and equilibrium in retail markets and then considers recent advances in the analysis of markets which require different assumptions; markets where adverse selection and moral hazard may be important, vertical markets with bargaining, and markets wherein a centralized allocation mechanism replaces prices. The second part considers the analysis of cost and production. It reviews the simultaneity and selection issues in production function estimation and then considers; the distinction between revenue and quantity generating functions and its implications for the analysis of markups, and the Empirical analysis of fixed costs and its implications for the analysis of product repositioning. The paper concludes by considering issues that arise due to the complexity of Empirical analysis of market dynamics and appropriate ways of dealing with them. Institutional subscribers to the NBER working paper series, and residents of developing countries may download this paper without additional charge at www.nber.org.
-
common sense and simplicity in Empirical Industrial Organization
2003Co-Authors: Ariel PakesAbstract:This paper is a revised version of a keynote address delivered at the inaugural International Industrial Organization Conference in Boston, April 2003. I argue that new econometric tools have facilitated the estimation of models with realistic theoretical underpinnings, and because of this, have made Empirical I.O. much more useful. The tools solve computational problems thereby allowing us to make the relationship between the economic model and the estimating equations transparent. This, in turn, enables us to utilize the available data more effectively. It also facilitates robustness analysis and clarifies the assumptions needed to analyze the causes of past events and/or make predictions of the likely impacts of future policy or environmental changes. The paper provides examples illustrating the value of simulation for the estimation of demand systems and of semiparametrics for the estimation of entry models.
Liran Einav - One of the best experts on this subject based on the ideXlab platform.
-
Empirical Industrial Organization a progress report
2012Co-Authors: Jonathan Levin, Liran EinavAbstract:The article sketches how the field of Industrial Organization has evolved to its current state, in particular how the emphasis has shifted over time from attempts to relate aggregate measures across industries toward more focused studies of individual industries. The authors describe several active areas of inquiry, discuss some of the impacts of this research and specify topics where research efforts have been more or less successful. They also address some current debates about research emphasis in the field, and more broadly about Empirical methods, and offer some ideas on where future research might go.
-
Empirical Industrial Organization a progress report
2010Co-Authors: Liran Einav, Jonathan LevinAbstract:The fi eld of Industrial Organization has made dramatic advances over the last few decades in developing Empirical methods for analyzing imperfect last few decades in developing Empirical methods for analyzing imperfect competition and the Organization of markets. These new methods have competition and the Organization of markets. These new methods have diffused widely: into merger reviews and antitrust litigation, regulatory decision diffused widely: into merger reviews and antitrust litigation, regulatory decision making, price setting by retailers, the design of auctions and marketplaces, and making, price setting by retailers, the design of auctions and marketplaces, and into neighboring fi elds in economics, marketing, and engineering. Increasing into neighboring fi elds in economics, marketing, and engineering. Increasing access to fi rm-level data and in some cases the ability to cooperate with fi rms or access to fi rm-level data and in some cases the ability to cooperate with fi rms or governments in experimental research designs is offering new settings and opporgovernments in experimental research designs is offering new settings and opportunities to apply these ideas in Empirical work. tunities to apply these ideas in Empirical work. This essay begins with a sketch of how the fi eld has evolved to its current state, This essay begins with a sketch of how the fi eld has evolved to its current state, in particular how the fi eld’s emphasis has shifted over time from attempts to relate in particular how the fi eld’s emphasis has shifted over time from attempts to relate aggregate measures across industries toward more focused studies of individual aggregate measures across industries toward more focused studies of individual industries. The second and primary part of the essay describes several active areas industries. The second and primary part of the essay describes several active areas of inquiry. While this is in some sense a survey, our goal is not to be comprehenof inquiry. While this is in some sense a survey, our goal is not to be comprehensive but to highlight key ideas and illustrate how modern research has approached sive but to highlight key ideas and illustrate how modern research has approached different problems. We also discuss some of the impacts of this research and specify different problems. We also discuss some of the impacts of this research and specify topics where research efforts have been more or less successful. The last section topics where research efforts have been more or less successful. The last section steps back to offer a broader perspective. We address some current debates about steps back to offer a broader perspective. We address some current debates about research emphasis in the fi eld, and more broadly about Empirical methods, and research emphasis in the fi eld, and more broadly about Empirical methods, and offer some thoughts on where future research might go. offer some thoughts on where future research might go.
-
Empirical Industrial Organization a progress report
2010Co-Authors: Liran Einav, Jonathan LevinAbstract:The field of Industrial Organization has made dramatic advances over the last few decades in developing Empirical methods for analyzing imperfect competition and the Organization of markets. We describe the motivation for these developments and some of the successes. We also discuss the relative emphasis that applied work in the field has placed on economic theory relative to statistical research design, and the possibility that a focus on methodological innovation has crowded out applications. We offer some suggestions about how the field may progress in coming years.