价格歧视不明显的市场均衡下的汽车价格
The Review of Economic Studies ? VOL.86, Issue 5 ? October 2019
作者：Xavier D’Haultf?uille(CREST), 
Isis Durrmeyer(Université Toulouse Capitole), 
Philippe Février(CREST)
摘要：在卖方能够区分价格的市场中，个人支付不同的价格，这可能是经济计量学家无法观察到的。本文考虑了具有价格歧视和价格有限信息的差别产品的需求和供给模型的结构估计，例如，从目录或平均价格中观察列表价格。在这一框架内，不仅可以在需求方普通条件下，而且可以通过供给方的限制来实现识别。该模型可以通过GMM使用嵌套不动点算法来估计，该算法将通常的压缩映射算法扩展到我们的设置。我们应用我们的方法来估计需求和供应在法国新的汽车市场。我们的研究结果表明，价格歧视引起的折扣很重要。平均折扣估计为9.6%，根据买家的特点和汽车的规格变化很大。我们的结果与法国交易价格的其他证据一致。
Automobile Prices in Market Equilibrium with Unobserved Price Discrimination
 
Xavier D’Haultf?uille(CREST), Isis Durrmeyer(Université Toulouse Capitole), Philippe Février(CREST)
 
ABSTRACT
 
In markets where sellers are able to price discriminate, individuals pay different prices that may be unobserved by the econometrician. This article considers the structural estimation of a demand and supply model of differentiated products with such price discrimination and limited information on prices taking the form of, e.g., observing list prices from catalogues or average prices. Within this framework, identification is achieved not only with usual moment conditions on the demand side, but also through supply-side restrictions. The model can be estimated by GMM using a nested fixed point algorithm that extends the usual contraction mapping algorithm to our setting. We apply our methodology to estimate the demand and supply in the French new automobile market. Our results suggest that discounting arising from price discrimination is important. The average discount is estimated to be 9.6%, with large variation depending on buyers’ characteristics and cars’ specifications. Our results are consistent with other evidence on transaction prices in France.
翻译：施懿
中央财经大学中国资产管理研究中心    中央财经大学中国资产管理研究中心依托于中央财经大学金融学院成立，中心致力于针对中国资产管理市场实践的独立学术研究，为中国资产市场发展提供基于学术研究的政策建议，为中国资产管理机构提供咨询服务。“以学术服务市场，以市场检验学术”，努力打造成在中国资产管理市场中具有一定影响力的智库。


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