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Estimating a mixed strategy employing maximum entropy

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  • Golan, Amos
  • Karp, Larry
  • Perloff, Jeffrey M.

Abstract

Generalized maximum entropy may be used to estimate mixed strategies subject to restrictions from game theory. This method avoids distributional assumptions and is consistent and efficient. We use this method to estimate the mixed strategies of duopolistic airlines.

Suggested Citation

  • Golan, Amos & Karp, Larry & Perloff, Jeffrey M., 1996. "Estimating a mixed strategy employing maximum entropy," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt5rx8z14p, Department of Agricultural & Resource Economics, UC Berkeley.
    • Handle: RePEc:cdl:agrebk:qt5rx8z14p
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    References listed on IDEAS

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    1. Brander, James A. & Zhang, Anming, 1993. "Dynamic oligopoly behaviour in the airline industry," International Journal of Industrial Organization, Elsevier, vol. 11(3), pages 407-435, September.
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    3. Golan, Amos & Judge, George G. & Miller, Douglas, 1996. "Maximum Entropy Econometrics," Staff General Research Papers Archive 1488, Iowa State University, Department of Economics.
    4. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119, Decembrie.
    5. Bresnahan, Timothy F., 1989. "Empirical studies of industries with market power," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 17, pages 1011-1057, Elsevier.
    6. James A. Brander & Anming Zhang, 1990. "Market Conduct in the Airline Industry: An Empirical Investigation," RAND Journal of Economics, The RAND Corporation, vol. 21(4), pages 567-583, Winter.
    7. R. Schmalensee & R. Willig (ed.), 1989. "Handbook of Industrial Organization," Handbook of Industrial Organization, Elsevier, edition 1, volume 1, number 1.
    8. Bresnahan, Timothy F. & Reiss, Peter C., 1991. "Empirical models of discrete games," Journal of Econometrics, Elsevier, vol. 48(1-2), pages 57-81.
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