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Estimating A Mixed Strategy Employing Maximum Entropy

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  • Golan, Amos
  • Karp, Larry S.
  • 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 S. & Perloff, Jeffrey M., 1996. "Estimating A Mixed Strategy Employing Maximum Entropy," CUDARE Working Papers 25072, University of California, Berkeley, Department of Agricultural and Resource Economics.
  • Handle: RePEc:ags:ucbecw:25072
    DOI: 10.22004/ag.econ.25072
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    References listed on IDEAS

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    1. Kooreman, Peter, 1994. "Estimation of Econometric Models of Some Discrete Games," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 9(3), pages 255-268, July-Sept.
    2. 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.
    3. 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.
    4. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
    5. Golan, Amos & Judge, George G. & Miller, Douglas, 1996. "Maximum Entropy Econometrics," Staff General Research Papers Archive 1488, Iowa State University, Department of Economics.
    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. 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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    Keywords

    Research Methods/ Statistical Methods;

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