Estimation of Structural Optimization Models: A Note on Identification
AbstractBajari, Benkard and Levin (2007) propose an estimation methodology for a broadclass of dynamic optimization problems. To carry out their procedure, one needs toselect a set of alternative policy functions and compare the implied expectedpayoffs with that from the data. We show that this can generally lead to objectivefunctions that are not capable of consistently estimating an identified model.
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Bibliographic InfoPaper provided by Suntory and Toyota International Centres for Economics and Related Disciplines, LSE in its series STICERD - Econometrics Paper Series with number /2010/547.
Date of creation: May 2010
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Web page: http://sticerd.lse.ac.uk/_new/publications/default.asp
Consistency; Identification; Optimization Models;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-26 (All new papers)
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