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Peer Effects in Deposit Markets 存款市场中的同伴效应
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2021-09-25 DOI: 10.2139/ssrn.3930699
Kim Fe Cramer, N. Koont
{"title":"Peer Effects in Deposit Markets","authors":"Kim Fe Cramer, N. Koont","doi":"10.2139/ssrn.3930699","DOIUrl":"https://doi.org/10.2139/ssrn.3930699","url":null,"abstract":"We provide first empirical evidence that consumer peer effects matter for banks' deposit demand. Using a novel measure that depicts for each county how exposed peers are to a specific bank in a given year, we tightly identify the causal effect of peer exposure on deposit demand through a fixed effects identification strategy. We address key empirical challenges such as time-invariant homophily. We find that a one percent increase in a bank's peer exposure leads to a 0.05 percent increase in deposit market share. This effect has become stronger over time with the rise of the internet and social media, which facilitate cross-county communication. Peer exposure is especially relevant for smaller banks and customers that have access to the internet.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"52 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134089684","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Show and Sell: Studying the Effects of Branded Cigarette Product Placement in TV Shows on Cigarette Sales 展示与销售:电视节目中品牌香烟植入广告对香烟销售的影响研究
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2021-06-21 DOI: 10.2139/ssrn.3871361
A. Goli, Simha Mummalaneni, Pradeep K. Chintagunta, S. Dhar
{"title":"Show and Sell: Studying the Effects of Branded Cigarette Product Placement in TV Shows on Cigarette Sales","authors":"A. Goli, Simha Mummalaneni, Pradeep K. Chintagunta, S. Dhar","doi":"10.2139/ssrn.3871361","DOIUrl":"https://doi.org/10.2139/ssrn.3871361","url":null,"abstract":"We evaluate whether and how branded TV product placement affects sales for cigarette brands.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127721824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Thrifty Food Plan Panel Price Index and the Real Value of SNAP Benefits 节俭食品计划面板价格指数和SNAP福利的实际价值
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2020-07-01 DOI: 10.2139/ssrn.3669951
Qingxiao Li, Metin Çakır
{"title":"Thrifty Food Plan Panel Price Index and the Real Value of SNAP Benefits","authors":"Qingxiao Li, Metin Çakır","doi":"10.2139/ssrn.3669951","DOIUrl":"https://doi.org/10.2139/ssrn.3669951","url":null,"abstract":"This paper uses retail scanner data to construct panel price indices for the Thrifty Food Plan (TFP) basket and uses the indices to estimate the real value of SNAP benefits. We find that the inflation rates and the price levels of TFP basket vary substantially across the 48 contiguous states and the District of Columbia. Using the TFP price indices, we show that from 2006 to 2016, the range of the difference in the real SNAP benefits for a household of four among states is between 7 to 16 percentage points, which converts to about 39 to 90 pounds of food per month. The result of our price convergence test suggests that this inequality would persist for a long time in the absence of regional adjustments of the SNAP benefits. Using the variation in the real value of SNAP benefits, we find that a one-percent increase in the real value of SNAP benefits is associated with a 0.5 percentage point increase in the SNAP participation rate among low- income population.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124476855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Selecting Data Granularity and Model Specification Using the Scaled Power Likelihood with Multiple Weights 利用多权重的比例幂似然选择数据粒度和模型规格
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2020-05-24 DOI: 10.2139/ssrn.3453170
Mingyung Kim, Eric T. Bradlow, R. Iyengar
{"title":"Selecting Data Granularity and Model Specification Using the Scaled Power Likelihood with Multiple Weights","authors":"Mingyung Kim, Eric T. Bradlow, R. Iyengar","doi":"10.2139/ssrn.3453170","DOIUrl":"https://doi.org/10.2139/ssrn.3453170","url":null,"abstract":"Firms routinely employ temporal sales data for making managerial decisions. To use such data appropriately, managers need to make two decisions: (a) the temporal granularity (e.g., weekly, monthly, or quarterly) and (b) an accompanying demand model. In most empirical contexts, however, the “appropriate” granularity-model combination is determined in an ad-hoc manner, leaving managerial decisions vulnerable to granularity and model choices. While extant literature has proposed methods that either select the best-fitted model or conduct robust inference against model misspecification, most methods assume that the granularity is correctly specified or pre-specify it. Our research fills this gap by proposing a method, the scaled power likelihood with multiple weights (SPLM), that not only identifies the best-fitted granularity-model combination but also conducts doubly (granularity and model) robust inference against incorrect selection. An extensive set of simulations shows that our method has higher statistical power than extant approaches for selecting the best-fitted granularity-model combination and provides results that are more stable (robust) across granularity-model combinations. We apply our framework to estimating the price and advertising elasticities for a Nielsen scanner dataset and find that, similar to our simulations, optimal prices and sales forecasts from our approach are more stable across granularity-model combinations.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115731306","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Discrete Prices and the Incidence and Efficiency of Excise Taxes 离散价格与消费税的发生率和效率
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2019-10-30 DOI: 10.2139/ssrn.3375423
Christopher T. Conlon, N. Rao
{"title":"Discrete Prices and the Incidence and Efficiency of Excise Taxes","authors":"Christopher T. Conlon, N. Rao","doi":"10.2139/ssrn.3375423","DOIUrl":"https://doi.org/10.2139/ssrn.3375423","url":null,"abstract":"This paper uses UPC-level data to examine the relationship between excise taxes, retail prices, and consumer welfare in the distilled spirits market. We document a nominal rigidity in retail prices that arises because firms largely choose prices that end in 99 cents and change prices in whole-dollar increments. A correctly specified model, like an ordered logit, takes this discreteness into account when predicting the effects of alternative taxes. Explicitly accounting for price points substantially impacts estimates of tax incidence and the excess burden cost of tax revenue. Meaningful nonmonotonicities in these quantities expand the potential considerations in setting excise taxes. (JEL H22, H71, L11, L66)","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121529327","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 42
Do Local Soda Taxes Affect Prices and Consumption? A Tale of Two Cities 地方苏打税会影响价格和消费吗?《双城记
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2019-07-30 DOI: 10.2139/ssrn.3456861
Hannah Bolder
{"title":"Do Local Soda Taxes Affect Prices and Consumption? A Tale of Two Cities","authors":"Hannah Bolder","doi":"10.2139/ssrn.3456861","DOIUrl":"https://doi.org/10.2139/ssrn.3456861","url":null,"abstract":"Many US cities have voted on or are considering soda taxes due in part to the growing literature about soda's negative health effects. However less is known about supplier and consumer responses to such taxes, particularly when they are implemented at a local rather than national level. Responses to local taxes could differ due to general equilibrium effects and institutional factors. In addition, more opportunities for avoidance may generate unintended consequences that have important policy implications. Rather than aggregating to the city level, this study leverages the high-frequency and high dimensional aspects of the Nielsen scanner data to investigate how prices and consumption of various goods change in response to local soda taxes. Comparing the cases of Berkeley and Philadelphia highlights which findings are constant across these very different cities and are likely to generalize to other local soda taxes. The results indicate incomplete pass-through rates that decline with beverage container size and moderate decreases in consumption of both diet and regular soda. Supply and demand elasticities can be separately identified using the tax as an instrument.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124921025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Competition Among Retail Formats 零售业态之间的竞争
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2018-07-22 DOI: 10.2139/ssrn.3218030
Chaoqun Chen
{"title":"Competition Among Retail Formats","authors":"Chaoqun Chen","doi":"10.2139/ssrn.3218030","DOIUrl":"https://doi.org/10.2139/ssrn.3218030","url":null,"abstract":"In this paper, I study how households allocate their budget for food and related items across different types of retailers. I construct a structural demand model that coherently characterizes both consumer expenditure and expenditure allocation among six retail formats. The model considers how price and assortments influence expen- diture allocations. To illustrate how my demand model can be applied in practice, I consider a situation faced by discount stores, during the Great Recession. In 2008, discount stores experienced a loss in share to other retail formats like warehouse clubs. I use my model to examine two different policies that discount stores could use to compete with other retail formats. First, I consider whether discount stores should compete by lowering prices. Second, I evaluate the effectiveness of introducing a new retail format that has smaller assortments. I find that introducing a small-size format is relatively more effective than competing with lower prices.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129887409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Market Structure and Competition: Evidence from a Natural Experiment in Liquor Licensure 市场结构与竞争:来自酒牌自然实验的证据
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2018-01-17 DOI: 10.2139/ssrn.3103998
Gastón Illanes, Sarah Moshary
{"title":"Market Structure and Competition: Evidence from a Natural Experiment in Liquor Licensure","authors":"Gastón Illanes, Sarah Moshary","doi":"10.2139/ssrn.3103998","DOIUrl":"https://doi.org/10.2139/ssrn.3103998","url":null,"abstract":"Washington state licensed private retailers to sell spirits for the first time in May 2012, but only if their premises exceeded 10,000ft. This restriction generates exogenous variation in the number of retailers across local liquor markets, which we leverage to estimate the causal effects of market structure on equilibrium outcomes. We find that spirits purchasing increases by 63% when moving from monopoly to duopoly markets, and that this increase is concentrated among the heaviest-drinking households. These results support the notion that local liquor availability can dramatically increase consumption. However, these effects dissipate quickly as the number of competitors increases, highlighting that the square-footage based licensure rule is a blunt policy tool. Surprisingly, price competition does not play an important role in the observed quantity increase. Instead, we find that firms compete in product assortment, tailoring product mix to the local competitive environment while holding prices fixed.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"108 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132010710","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Using Duplication of Purchase Analysis to Reveal Brand Sub-Markets: The Case of OTC Pain Relief Tablets 用重复购买分析揭示品牌子市场:以非处方止痛药为例
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2017-09-30 DOI: 10.2139/ssrn.3044190
J. Dawes
{"title":"Using Duplication of Purchase Analysis to Reveal Brand Sub-Markets: The Case of OTC Pain Relief Tablets","authors":"J. Dawes","doi":"10.2139/ssrn.3044190","DOIUrl":"https://doi.org/10.2139/ssrn.3044190","url":null,"abstract":"This study analyzes the extent to which the top 8 brands in the US OTC pain relief tablet market share their buyers with each other. The study uses the Duplication of Purchase Analysis method. It shows that brands in this market overall follow the Duplication of Purchase Law, namely that each brand shares its buyers with other brands in-line with how big those other brands are. Furthermore, several ‘partitions’ are identified: Aspirin brands share buyers more with each other than expected, so do Ibuprofen brands but to a lesser extent.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122633463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How Does Advertising Depend on Competition? Evidence from U.S. Brewing 广告如何依赖于竞争?来自美国酿酒业的证据
Kilts Center at Chicago Booth Marketing Data Center Paper Series Pub Date : 2016-10-29 DOI: 10.2139/ssrn.2996770
Ambarish Chandra, Matthew C. Weinberg
{"title":"How Does Advertising Depend on Competition? Evidence from U.S. Brewing","authors":"Ambarish Chandra, Matthew C. Weinberg","doi":"10.2139/ssrn.2996770","DOIUrl":"https://doi.org/10.2139/ssrn.2996770","url":null,"abstract":"The relationship between market structure and advertising has been extensively studied, but has generated sharply opposing theoretical predictions, as well as inconclusive empirical findings, likely because of severe endogeneity concerns. We exploit the 2008 merger of Miller and Coors in the U.S. brewing industry to examine how changes in local concentration affect firms’ advertising behavior. Well-established regional preferences over beer brands, and the sharp increase in concentration from the merger, make this an excellent setting to analyze this question. We find a significant positive effect of local market concentration on advertising expenditures: a 100-point increase in the Herfindahl–Hirschmann Index measure of concentration increases advertising per capita by about 5%. Our findings shed light on how and when firms choose to deploy advertising. The online appendix is available at https://doi.org/10.1287/mnsc.2017.2889. This paper was accepted by Eric Anderson, marketing.","PeriodicalId":444414,"journal":{"name":"Kilts Center at Chicago Booth Marketing Data Center Paper Series","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129739016","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 20
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