Stefan Hoderlein (Harvard Econ)

Date: 

Wednesday, November 20, 2013, 12:00pm to 1:30pm

Location: 

CGIS Knafel 354

Title: "Consumer Demand and Welfare Estimation in a Heterogeneous Population."

This is an overview about own recent econometric work related to the modeling of heterogeneity in applied consumer demand models.  The focus will be on non-parametric random coefficient models.  The main application will come from estimating gasoline demand; in particular, estimating the distribution of welfare effects of a 5% gasoline price change.

Professor Hoderlein's work is mainly concerned with finding general ways to model heterogeneity in the application of microeconomic models, specifically, nonseparable models and random coefficient models. Because of its general nature, Professor Hoderlein's research has a significant nonparametric component. Applications came from a number of fields, but Professor Hoderlein has a particular interest in consumer demand models.