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Extraneous Estimates
If some parameters are identified, while others are not and there exists information on their value from other (extraneous) sources, the researcher may proceed with the estimation of the identified coefficients and use the extraneously known value for the non-identified ones.
Of the above identifjling restrictions the most important and most widely used are the restrictions on the values of the structural parameters.
Treating probability as a logic, Thomas Bayes defined the following: Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y) For example, probability that the weather was bad given that our friends playe
Stanley is auctioning an item that he values at zero. Betty and Billy, the two potential buyers, each have independent private values which are drawn from a uniform distribution, P
Rollback equilibrium (b) In the rollback equilibrium, A and B vote For while C and D vote Against; this leads to payoffs of (3, 4, 3, 4). The complete equil
Consider a game in which player 1 chooses rows, player 2 chooses columns and player 3 chooses matrices. Only Player 3''s payoffs are given below. Show that D is not a best response
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I have a problem with an exercise about Cournot game. It is very complex and it is composed by different question and it is impossible for me to write the complete text. I need som
Another term for a preserved bid auction in which bidders simultaneously submit bids to the auctioneer with no knowledge of the amount bid by other member. Usually, the uppermost b
Discussion in the preceding section suggests that if we want to measure a given hnction belonging to a simultaneous-equations model, the hnction must be fairly stable over the samp
what will be the best strategy for a bidder in an auction comprised of four bidders?
Living from 1845 to 1926, Edgeworth's contributions to Economics still influence trendy game theorists. His Mathematical Psychics printed in 1881, demonstrated the notion of compet
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