A Hybrid Genetic Algorithm For The Maximum Likelihood Estimation Of Models With Multiple Equilibria: A First Report
AbstractThis paper presents a hybrid genetic algorithm to obtain maximum likelihood estimates of parameters in structural econometric models with multiple equilibria. The algorithm combines a pseudo maximum likelihood (PML) procedure with a genetic algorithm (GA). The GA searches globally over the large space of possible combinations of multiple equilibria in the data. The PML procedure avoids the computation of all the equilibria associated with every trial value of the structural parameters.
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Bibliographic InfoArticle provided by World Scientific Publishing Co. Pte. Ltd. in its journal New Mathematics and Natural Computation.
Volume (Year): 01 (2005)
Issue (Month): 02 ()
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- Arthur Lewbel & Xun Tang, 2010. "Identification and Estimation of Games with Incomplete Information Using Excluded Regressors, Second Version," PIER Working Paper Archive 12-018, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 20 Mar 2012.
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