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The study of differentiated-products markets is a central part of empirical industrial organization. Questions regarding market power, mergers, innovation, and valuation of new brands are addressed using cutting-edge econometric methods and relying on economic theory. Unfortunately, difficulty of use and computational costs have limited the scope of application of recent developments in one of the main methods for estimating demand for differentiated products: random coefficients discrete choice models. As our understanding of these models of demand has increased, both the difficulty and costs have been greatly reduced. This paper carefully discusses the latest innovations in these methods with the hope of (1) increasing the understanding, and therefore the trust, among researchers who never used these methods, and (2) reducing the difficulty of use, and therefore aiding in realizing the full potential of these methods.

Demand (Economic theory)

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This paper proposes a discrete model of investment behavior that incorporates general nonstatic expectations with a general cost of adjustment technology. The combination of these two features usually leads to a set of highly nonlinear first order conditions for the optimal input plan; the expectational variables work in addition as shift parameters. Consequently, an explicit analytic solution for derived factor demand is in general difficult if not impossible to obtain. Simplifying assumptions on the technology and/or the form of the expectational process are therefore typically made in the literature. In this paper we develop an algorithm for the estimation of flexible forms of derived factor demand equations within the above general setting. By solving the first order conditions numerically at each iteration step this algorithm avoids the need for an explicit analytic solution. In particular we consider a model with a finite planning horizon. The relationship between the optimal input plans of the finite and infinite planning horizon model is explored. Due to the discrete setting of the model the forward looking behavior of investment is brought out very clearly. As a byproduct a consistent framework for the use of anticipation data on planned investment is developed.

Demand (Economic theory)

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"Written by distinguished Keynesian and Post-Keynesian economists from diverse national backgrounds, this book examines the economic growth and employment experiences of both large areas of the world and specific economies. Dealing with critical issues in macroeconomic theory and policy, this book puts current issues in a historical perspective. Emphasising developments during and after the Great Recession, and paying due attention to the impacts of austerity policies, chapters explain that high growth of aggregate demand is as essential as ever to achieving full employment and rising living standards. Organised into three distinct thematic parts, the book moves from discussing theoretical considerations, to aggregate demand and employment in the EU, Latin America and the developing world, to individual country studies including Canada, India and Japan. Economics students, particularly those interested in heterodox economics and macroeconomics, will find the accessible language and perspectives on a range of major regions helpful. This will also be a useful read for macroeconomic policy-makers looking for a more in-depth understanding of the importance of boosting aggregate demand"--

Demand (Economic theory)

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Demand (Economic theory) --- Consumption (Economics)

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Trendspotters and bestselling authors Marian Salzman and Ira Matathia demystify buzz and show how marketers can create and leverage it for the success of their products and services. The world we inhabit is in constant flux, and the captive audience on which advertisers relied for years no longer exists. Branding today requires a flexibility and creativity that have thus far eluded many traditional practitioners. When there is no clear forum for communicating your brand message to the audience, you must have your audience do it for you. The authors show how and why buzz works, examining case studies like Kate Spade, Madonna, Bulgari, Ford, Nokia, and French Connection. They explore the role specific consumer groups play in setting trends, show how influence works, reveal the efficacy of shock ads, and explain how to manage brand momentum. This book is a dynamic guide that sheds new light on the topic of buzz using real-world examples and case studies that show how marketers can manufacture the seemingly authentic word-of-mouth to which today's cynical consumer responds.

Advertising --- Demand (Economic theory) --- Marketing