Berry AND Levinsohn AND Pakes - 2025 Penn Bowl

Question

A paper by these three economists finds equilibria for the U.S. auto industry using a model with idiosyncratic heterogeneity based on a type I extreme value distribution. For 10 points each:

[10h] Name these three economists or the abbreviation for their collaboration. They name a common process in industrial organization for estimating demand using a random-coefficient discrete-choice model.

ANSWER: Berry AND Levinsohn AND Pakes [accept answers in order; accept BLP; accept Steven T. Berry in place of “Berry”; accept James A. Levinsohn or Jim Levinsohn in place of "Levinsohn"; accept Ariél Pakes in place of “Pakes”; prompt on partial answers]

[10m] To handle price exogeneity, BLP estimation uses this type of variable, like a cost shifter. This type of variable, often used in causal inference, is correlated with the explanatory variable but satisfies the exclusion restriction.

ANSWER: instrumental variable [or instrument; or IV]

[10e] One way to improve demand estimation using BLP is by adding moments denoting this economic concept, which is also represented by a curve that intersects the demand curve at equilibrium.

ANSWER: supply

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Summary


2025 Penn Bowl - BU	11/01/25	Y	4	12.50	100%	25%	0%
2025 Penn Bowl - CWRU	11/01/25	Y	3	13.33	100%	33%	0%
2025 Penn Bowl - Mainsite (UPenn)	11/01/25	Y	6	11.67	100%	17%	0%
2025 Penn Bowl - Murray State	11/08/25	Y	2	10.00	100%	0%	0%
2025 Penn Bowl - Northwestern	10/25/25	Y	4	12.50	100%	25%	0%
2025 Penn Bowl - Online	11/08/25	Y	2	10.00	100%	0%	0%
2025 Penn Bowl - Ottawa	11/01/25	Y	7	14.29	100%	43%	0%
2025 Penn Bowl - Stanford	10/25/25	Y	4	15.00	100%	50%	0%
2025 Penn Bowl - UK	11/01/25	Y	9	12.22	89%	33%	0%
2025 Penn Bowl - UNC	11/01/25	Y	3	10.00	100%	0%	0%
2025 Penn Bowl - WashU	11/01/25	Y	2	15.00	100%	50%	0%

Data


MIT B	Yale	10	10	20
MIT A	Brown	0	10	10
Harvard	I've been running into you in my lead plumbocene what could have benzene	0	10	10
Pittsburgh	Michigan B	0	10	10
Michigan A	Ohio State A	10	10	20
CWRU	Ohio State B	0	10	10
Columbia A	Mount Sinai	0	10	10
JHU A	John Jay	0	10	10
Maryland A	JHU B	0	10	10
Swarthmore	Maryland B	0	10	10
NYU B	Maryland C	0	10	10
NYU A	Columbia B	10	10	20
Texas B	Central Oklahoma	0	10	10
Oklahoma	Texas A	0	10	10
RIT	Brandeis	0	10	10
Illinois	Indiana	0	10	10
UChicago B	Northwestern A	0	10	10
UChicago A	Northwestern B	10	10	20
Purdue A	Purdue B	0	10	10
abg academy	New Young Whigs of America	0	10	10
Wake Up Paddington A Washington Mystery	rusty shackleford	0	10	10
Aweille Kevin Fan osti continue comme ça	Ottawa 67s	10	10	20
Guelph perfomative male competition	Toronto Operation PBSuccess	10	10	20
Waterloo you are crooked	McGill B	0	10	10
Toronto Murder on the Rider Express	McGill Fartlets	0	10	10
Queen's is monitoring the situation	Toronto E	0	10	10
Toronto G	Carleton A	0	10	10
#OpenToBuzz	Toronto Sunshine Bubbles	10	10	20
Berkeley A	Berkeley B	10	10	20
Berkeley C	Free Win	0	10	10
In Search of Lost Clues	Stanford A	10	10	20
Stanford B	The best time to buzz was twenty clues ago. The second best time to buzz is now	0	10	10
question mark	Alas poor Warwick, I knew him Edinburgh	10	10	20
Chimp Brisket	To buzz is to be perceived	0	10	10
1. Wawa 2. Blank Street 151. Black Sheep at Kings Cross rail	Galactic Ombudsmen	0	0	0
Knorr Stock Clue	Penn and the Art of Tossup-Bonus cycle Maintenance	10	10	20
Paul Quifford, or, It Was a Dark and Stormy Tournament	Hail to the Sheaf	0	10	10
Of Mice and Penn	Quiztian Bale in Ratman Begins	0	10	10
Coughing Baby	The Bit and the Penndulum	0	10	10
Burnaburiash's Lapis Lazuli	Washed Scrubs	10	10	20
why is it called a score clue if nobody scores points on it	Bristold	0	10	10
Wise Duke	Planck Sinatra	0	10	10
UNC B	UNC A	0	10	10
VT A	VT B	0	10	10
Truman State	VJ Edgecombe School of Interior Design - Edwardsville	0	10	10
WashU Kiki	WashU Bouba	10	10	20