Generating Market Elasticity Estimates Using Cross-Sectional First-Choice and Second-Choice Data
利用横截面的第一与第二选择数据估计市场弹性
This article develops a method for using first-choice/second-choice information to estimate the ratio of cross-elasticities to own-elasticities. I then use Bayesian techniques to couple this information with prior knowledge of the elasticities. This leads to elasticity estimates reflecting the decision maker's prior knowledge as well as existing data on customer first-choice/second-choice preferences.