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Professor of Marketing
Albuquerque P., Bronnenberg B. J. (2017). Structural Models. In Advanced Methods for Modeling Markets (Book Series: International Series in Quantitative Marketing) (pp. 203-234). Springer.
Structural models are econometric representations of decision-making behavior. Their key characteristic is that they frequently represent quantities of sales and price data as outcomes of goal-directed decision-making by agents.A litmus test of the structural nature of an empirical model is therefore answering the question "where in the model are the agents’ decisions?" or in short “who maximizes what?”.