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In econometric theory two possibie situations of identifiability can arise: Equation under,consideration is identified or not identified:
1) Equation is under-identified-
If the structure of the equation is not unique or there is not sufficient linformationtto uniquely disfinguish the equation then the equation is under- identified.
2) Equation is identified
(a) Exactly identified: If there is sufficient information available to distinguish the equation then it is called just identified or exactly identified equation
(b) Over identified: If there is more than sufficient information regarding the equation then th$ equation is called over-identified.
Exercise 1 a) Pure strategy nash equilibrium in this case is Not Buy, bad ( 0,0) as no one wants to deviate from this strategy. b) The player chooses buy in the first perio
Leadership in an Oil Production Game Students can be broken into pairs to play this game once, witheach student's representing one country; then each shouldswitch partners and
Two people are involved in a dispute. Person 1 does not know whether person 2 is strong or weak; she assigns probability to person 2 being strong. Person 2 is fully informed. Each
how do I?
please compute this number 885 for the swertres lotto game.
In any game, utility represents the motivations of players. A utility perform for a given player assigns variety for each potential outcome of the sport with the property that a be
When players interact by enjoying an identical stage game (such because the prisoner's dilemma) varied times, the sport is termed a repeated game. not like a game played once, a re
A minimum bid is that the smallest acceptable bid in an auction. a gap bid, the primary bid placed within the auction, should be a minimum of as high because the minimum bid or the
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A type of sequential second worth auction, just like an English auction during which an auctioneer frequently raises the present worth. Participants should signal at each worth lev
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