Marco Chan - Academia.edu (original) (raw)
Address: Kowloon, Kowloon City, Hong Kong
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University of the Basque Country, Euskal Herriko Unibertsitatea
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Papers by Marco Chan
We seek to take a different approach in deriving the optimal search policy for the repeated consu... more We seek to take a different approach in deriving the optimal search policy for the repeated consumer search model found in Fishman & Rob (1995) with the main motivation of dropping the assumption of prior knowledge of the price distribution F (p) in each period. We will do this by incorporating the famous multi-armed bandit problem (MAB). We start by modifying the MAB framework to fit the setting of the repeated consumer search model and formulate the objective as a dynamic optimization problem. Then, given any sequence of exploration we assign a value to each store in that sequence using Bellman equations. We then proceed to break down the problem into individual optimal stopping problems for each period which incidentally coincides with the framework of the famous secretary problem where we proceed to derive the optimal stopping policy. We will see that implementing the optimal stopping policy in each period solves the original dynamic optimization by ‘forward induction’ reasoning.
In this paper, we attempt to estimate the effect of the implementation of subscription based stre... more In this paper, we attempt to estimate the effect of the implementation of subscription based streaming services on the demand of the associated game consoles. We do this by applying the BLP demand estimation model proposed by Berry (1994). This results in a linear demand specification which can be identified using conventional identification methods such as instrumental variables estimation and fixed effects models. We find that given our dataset, the two-stage least squares (2SLS) regression provides us with convincing estimates that subscription-based streaming services does have a positive effect on the demand of game consoles as proposed by the general principle of complementary goods.
In 2014 the Patient Protection and Affordable Care Act (ACA) introduced the expansion of Medicaid... more In 2014 the Patient Protection and Affordable Care Act (ACA) introduced the expansion of Medicaid where states can opt to expand the eligibility for those in need of free health insurance. In this paper we attempt to assess the effectiveness of Medicaid expansion on health outcomes of state populations using Differencein-Difference (DD) regressions to seek for causal impacts of expanding Medicaid on health outcomes in 49 states. We find that in the time frame of 2013 to 2016, Medicaid expansion seems to have had no significant impact on the health outcomes of states that have chosen to expand.
We seek to take a different approach in deriving the optimal search policy for the repeated consu... more We seek to take a different approach in deriving the optimal search policy for the repeated consumer search model found in Fishman & Rob (1995) with the main motivation of dropping the assumption of prior knowledge of the price distribution F (p) in each period. We will do this by incorporating the famous multi-armed bandit problem (MAB). We start by modifying the MAB framework to fit the setting of the repeated consumer search model and formulate the objective as a dynamic optimization problem. Then, given any sequence of exploration we assign a value to each store in that sequence using Bellman equations. We then proceed to break down the problem into individual optimal stopping problems for each period which incidentally coincides with the framework of the famous secretary problem where we proceed to derive the optimal stopping policy. We will see that implementing the optimal stopping policy in each period solves the original dynamic optimization by ‘forward induction’ reasoning.
In this paper, we attempt to estimate the effect of the implementation of subscription based stre... more In this paper, we attempt to estimate the effect of the implementation of subscription based streaming services on the demand of the associated game consoles. We do this by applying the BLP demand estimation model proposed by Berry (1994). This results in a linear demand specification which can be identified using conventional identification methods such as instrumental variables estimation and fixed effects models. We find that given our dataset, the two-stage least squares (2SLS) regression provides us with convincing estimates that subscription-based streaming services does have a positive effect on the demand of game consoles as proposed by the general principle of complementary goods.
In 2014 the Patient Protection and Affordable Care Act (ACA) introduced the expansion of Medicaid... more In 2014 the Patient Protection and Affordable Care Act (ACA) introduced the expansion of Medicaid where states can opt to expand the eligibility for those in need of free health insurance. In this paper we attempt to assess the effectiveness of Medicaid expansion on health outcomes of state populations using Differencein-Difference (DD) regressions to seek for causal impacts of expanding Medicaid on health outcomes in 49 states. We find that in the time frame of 2013 to 2016, Medicaid expansion seems to have had no significant impact on the health outcomes of states that have chosen to expand.