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Dynamic panel data: A useful technique in experiments

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Author Info

  • Pablo Brañas-Garza

    ()
    (GLOBE and Universidad de Granada)

  • Marisa Bucheli

    ()
    (Departamento de Economía, Facultad de Ciencias Sociales, UdelaRteresa, Uruguay)

  • Teresa Garcia-Muñoz

    ()
    (GLOBE and Universidad de Granada)

Abstract

Numerous experimental studies use a panel approach to analyze repeated experiments involving a large number of periods. They use “static” panel techniques and do not incorporate any temporal dependency (lags) of the dependent variable. This paper introduces dynamic panel data techniques to experimental economists. This is a standard tool in many other fields of economics and might also be useful in our discipline. It uses the lags of the dependent variable as explanatory variables. Although the coefficients on lagged dependent variables might be far from our interest, the introduction of these lags becomes crucial to control for the dynamics of the process. To show the advantages of this technique, we have compared two datasets using static and dynamic panel data. We conclude that the use of dynamic panel data models in the context of experiments allows to unravel new relationships between experimental variables and highlighting new paths in behaviors

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File URL: http://www.ugr.es/~teoriahe/RePEc/gra/wpaper/thepapers10_22.pdf
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Bibliographic Info

Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number 10/22.

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Length: 13 pages
Date of creation: 01 Sep 2011
Date of revision:
Handle: RePEc:gra:wpaper:10/22

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  1. Glenn W. Harrison & John A. List, 2004. "Field Experiments," Journal of Economic Literature, American Economic Association, vol. 42(4), pages 1009-1055, December.
  2. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, Elsevier, vol. 87(1), pages 115-143, August.
  3. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, Econometric Society, vol. 50(4), pages 1029-54, July.
  4. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, Elsevier, vol. 68(1), pages 29-51, July.
  5. John List & Todd Cherry, 2000. "Learning to Accept in Ultimatum Games: Evidence from an Experimental Design that Generates Low Offers," Experimental Economics, Springer, Springer, vol. 3(1), pages 11-29, June.
  6. Glenn Harrison, 2007. "House money effects in public good experiments: Comment," Experimental Economics, Springer, Springer, vol. 10(4), pages 429-437, December.
  7. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  8. Anabela Botelho & Glenn W. Harrison & Marc A. Hirsch & Elisabet E. Rutstrom, 2001. "Bargaining behavior, demographics and nationality: a reconsideration of the experimental evidence," NIMA Working Papers, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho 16, Núcleo de Investigação em Microeconomia Aplicada (NIMA), Universidade do Minho.
  9. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, Elsevier, vol. 18(1), pages 47-82, January.
  10. Guillen, Pablo & Fatas, Enrique & Brañas-Garza, Pablo, 2010. "Inducing efficient conditional cooperation patterns in public goods games, an experimental investigation," Journal of Economic Psychology, Elsevier, Elsevier, vol. 31(6), pages 872-883, December.
  11. Windmeijer, Frank, 2005. "A finite sample correction for the variance of linear efficient two-step GMM estimators," Journal of Econometrics, Elsevier, Elsevier, vol. 126(1), pages 25-51, May.
  12. Holtz-Eakin, Douglas & Newey, Whitney & Rosen, Harvey S, 1988. "Estimating Vector Autoregressions with Panel Data," Econometrica, Econometric Society, Econometric Society, vol. 56(6), pages 1371-95, November.
  13. David Cooper & Nick Feltovich & Alvin Roth & Rami Zwick, 2003. "Relative versus Absolute Speed of Adjustment in Strategic Environments: Responder Behavior in Ultimatum Games," Experimental Economics, Springer, Springer, vol. 6(2), pages 181-207, October.
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Cited by:
  1. S. Bortolotti & M. Casari & F. Pancotto, 2013. "Norms of Punishment in the General Population," Working Papers wp898, Dipartimento Scienze Economiche, Universita' di Bologna.

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