Why is demand estimation useful?

Define the relevant market

Which relevant markets need to be defined?

What kind of substitutability is there?

What factors affect elasticity?

What is the uniproduct monopoly markup?

What is the cournot markup?

What is the average markup?

What is the formula for concentration in the market?

Why is there a problem with endogeneity in demand estimation?

How can the endogeneity problem be solved?

Give examples of demand and supply shifters

What makes a good instrument?

How can preference parameters be estimated for the demand side?

What does a simple logit model give?

How is a coefficient from a logit model interpreted?

What are the benefits of using a simple logit model?

What are the disadvantages of using a simple logit model?

How can the problem with independent irrelevant alternatives be sovled?

What is the formula for a logit model?