A competitive market for an experience good is considered where high quality is enforced by repeated game trigger strategies. The goods are demanded by long run (LR) and short run (SR) customers, the former buying repeatedly, the latter only once. SR buyers can free ride on quality enforcement...

This paper derives conditions under which the generalized method of moments (GMM) estimator is as efficient as the maximum likelihood estimator (MLE). The data are supposed to be drawn from a parametric family and to be stationary Markov. We study the efficiency of GMM in a general framework...

In many circumstances, the likelihood function does not have a simple tractable expression. The main examples discussed in the paper are the convolution and the mixture of distributions. Finite mixture models are commonly used to model data from a population composed of a finite number of...

No abstract.