Lars Nesheim

Which housing characteristics are important for understanding homeownership rates?

The multinomial logit model with random coefficients is widely used in applied research. This paper is concerned with estimating a random coefficients logit model in which the distribution of each coefficient is characterized by finitely many parameters.

We propose a demand model where consumers simultaneously choose a few different goods from a large menu of available goods, and choose how much to consume of each good.

The National Infrastructure Commission commissioned a team of academics and researchers at the IFS and UCL to create a software tool that estimates how land values respond to changes in land purpose or infrastructure improvements. The tool is now available online, and this page provides some background on, and documentation for, the project.

The multinomial logit model with random coefficients is widely used in applied research. This paper is concerned with estimating a random coefficients logit model in which the distribution of each coefficient is characterized by finitely many parameters.

Paper forthcoming in Quantitative Economics.

The authors present evidence from 260,000 online auctions of second-hand cars to identify the impact of public reserve prices on auction outcomes.

Using the English Housing Survey, the authors estimate a supply side selection model of the allocation of properties to the owner-occupied and rental sectors.

Random utility models are widely used to study consumer choice. The vast majority of applications make strong assumptions about the marginal utility of income, which restricts income effects, demand curvature and pass-through. The authors show that flexibly modeling income effects can be important, particularly if one is interested in the distributional effects of a policy change, even in a market in which, a priori, the expectation is that income effects will play a limited role. The authors allow for much more flexible forms of income effects than is common and illustrate the implications by simulating the introduction of an excise tax.

We model individual demand for housing over the life-cycle, and show the aggregate implications of this behaviour.

The authors present evidence from 260,000 online auctions of second-hand cars to identify the impact of public reserve prices on auction outcomes.

Competition Commission working paper