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Estimation of Public Goods Game Data

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  • Merrett, Danielle

Abstract

This paper compares the performance of alternative estimation approaches for Public Goods Game data. A leave-one-out cross validation was applied to test the performance of five estimation approaches. Random effects is revealed as the best estimation approach because of its un-biased and precise estimates and its ability to estimate time-invariant demographics. Surprisingly, approaches that treat the choice variable as continuous out-perform those that treat the choice variable as discrete. Correcting for censoring is shown to induce biased estimates. A finite Poisson mixture model produced relatively un-biased estimates however lacked the precision of fixed and random effects estimation.

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File URL: http://hdl.handle.net/2123/8256
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Bibliographic Info

Paper provided by University of Sydney, School of Economics in its series Working Papers with number 2012-09.

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Date of creation: Apr 2012
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Handle: RePEc:syd:wpaper:2123/8256

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Postal: Sydney, NSW 2006
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Web page: http://sydney.edu.au/arts/economics
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Related research

Keywords: finite mixture models; ordered logit; fixed effects; random effects; economic experiments; voluntary contributions mechanism; public goods;

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References

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Cited by:
  1. Ansink, Erik & Bouma, Jetske, 2013. "Framed field experiments with heterogeneous frame connotation," MPRA Paper 43975, University Library of Munich, Germany.

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