Estimation of structural optimization models: a note on identification

Bajari, Benkard and Levin (2007) propose an estimation methodology for a broad class of dynamic optimization problems. To carry out their procedure, one needs to select a set of alternative policy functions and compare the implied expected payoffs with that from the data. We show that this can generally lead to objective functions that are not capable of consistently estimating an identified model.

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Year of publication:	2010-05
Authors:	Srisuma, Sorawoot
Institutions:	London School of Economics (LSE)
Subject:	consistency \| identification \| optimization models

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Extent:	application/pdf
Series:	LSE Research Online Documents on Economics.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Econometrics, EM/2010/547 7 pages
Classification:	J1 - Demographic Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011126033