题目：Switching Cost and the Deposit Demand in China
演讲人：Chun-Yu Ho，Assistant Professor, Georgia Institute of Technology
时间：2008年12月18日，周四, 15:30-17:00
地点：上海交通大学安泰经济与管理学院北楼102
演讲内容简介：This paper develops and estimates a dynamic model of consumer demand for deposits, in which banks provide differentiated products, and product characteristics evolve over time. Consumers choose their banks based on the utility received from using their services, and incur a fixed cost when they switch banks. Consequently, consumer choices include which bank to use and when to switch. Utilizing the dynamic structural model, I analyze the impact of forward looking behavior on understanding consumer preferences. The main finding is that switching costs have significant impacts on consumers in choosing in their deposit institutions. Consumers adjust their bank choices gradually when there are changes in bank attributes. The fixed cost incurred to switch banks leads the static demand model understating the price elasticity of service fees and overstating the willingness to pay of consumers on product characteristics.
