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Identification may be established either by the examination of the specification of the structural model, or by the examination of the reduced form of the model.
Traditionally identification has been approached via the reduced form. In the sobsequent section we will examine both approaches. However, the reduced form approach is conceptually confusing and computationally more difficult than the structural model approach, because it requires the derivation of the reduced form first and then examination of the values of the determinant formed from some of the reduced form coefficients. The structural form approach is simpler and more useful.
In this unit we will only discuss the structural form approach of identification. In applying the identification rules we should ignore the constamt term if it is present in each equations, or, if it is present in some of the equations then we have to retain it and we need to treat it like separate variable. In this case we must include in the set of varijkdes a dummy variable (say X, ), which would always take on the value 1.
A subset or piece of a sequential game starting at some node such {that each that each} player is aware of each action of the players that moved before him at every purpose. Sub ga
Find the pure-strategy Nash equilibrium Alice is on vacation in Wonderland and considers trying a special mushroom sold by the caterpillar. She cannot tell upfront if the mush
WHAT IS DYNAMIC GAME MODEL
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1. (a) True or False: If a 2x2 game has a unique pure strategy Nash Equilibrium, then both players always have dominant strategies. (b) Draw a table representing the Prisoner.s Dil
Consider the situation in which Player M is an INCUMBENT monopolist in an industry, which makes a profit of $10m if left to enjoy its privileged position undisturbed. Player P is a
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