Cabrales, Antonio; Fontes, Walter Garcia - Department of Economics and Business, Universitat … - 2000
experimental data: quadratic deviation measures without unobserved heterogeneity, and maximum likelihood with and without … unobserved heterogeneity. After discussing identification issues, we show that the estimators are consistent and provide their … asymptotic distribution. Using Monte Carlo simulations, we show that ignoring unobserved heterogeneity can lead to seriously …