Asymptotic Least Squares Estimators for Dynamic Games<xref ref-type="fn" rid="FN1">-super-1</xref>

S-Tier
Journal: Review of Economic Studies
Year: 2008
Volume: 75
Issue: 3
Pages: 901-928

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper considers the estimation problem in dynamic games with finite actions. we derive the equation system that characterizes the markovian equilibria. the equilibrium equation system enables us to characterize conditions for identification. we consider a class of asymptotic least squares estimators defined by the equilibrium conditions. this class provides a unified framework for a number of well-known estimators including those by <xref ref-type="bibr" rid="R21">Hotz and Miller (1993)</xref> and by <xref ref-type="bibr" rid="R2">Aguirregabiria and Mira (2002)</xref>. We show that these estimators differ in the weight they assign to individual equilibrium conditions. We derive the efficient weight matrix. A Monte Carlo study illustrates the small sample performance and computational feasibility of alternative estimators. Copyright 2008, Wiley-Blackwell.

Technical Details

RePEc Handle
repec:oup:restud:v:75:y:2008:i:3:p:901-928
Journal Field
General
Author Count
2
Added to Database
2026-01-29