Análisis econométrico industrial: una aplicación de los modelos de elección discreta

Abstract

Rational consumer behavior gives valuable information for firms that wish to maximize their profit. The determinants of their choice, such as the observable and unobservable characteristics of both the consumer and the products, help to model the probability of purchasing o choosing one good over another. According to this, firms can think in Price discrimination mechanisms, which would have effects over the market efficiency and the consumer welfare. In this article, we make to empirical applications of the discrete choice models, Multinomial Logit and Probit, in the television and personal care market, respectively. On one hand, results show that electronic appliances such as DVDs and audio systems increase the probability of choosing a high-tech display television, and that socioeconomic status, specially being in the high-income group, has this same effect on the probability of choosing LCD and LED. On the other hand, tha main ingredients of a produt affect significantly the probability of buying depilatory products and soaps, which tend to have high prices and a high level of vertical product differentiation.