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Consistency and asymptotic normality for equilibrium models with partially observed outcome variables

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  • Miller, Nathan H.
  • Osborne, Matthew

Abstract

We derive conditions under which structural econometric models that rely on numerical computation of equilibria produce consistent and asymptotically normal parameter estimates. The conditions are weaker than those required for the application of the implicit function theory.

Suggested Citation

  • Miller, Nathan H. & Osborne, Matthew, 2014. "Consistency and asymptotic normality for equilibrium models with partially observed outcome variables," Economics Letters, Elsevier, vol. 123(1), pages 70-74.
    • Handle: RePEc:eee:ecolet:v:123:y:2014:i:1:p:70-74
    DOI: 10.1016/j.econlet.2014.01.013
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    References listed on IDEAS

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    1. Ronald L. Goettler & Brett R. Gordon, 2011. "Does AMD Spur Intel to Innovate More?," Journal of Political Economy, University of Chicago Press, vol. 119(6), pages 1141-1200.
    2. Matthew J Osborne & Nathan H. Miller, 2011. "Competition among Spatially Differentiated Firms: An Estimator with an Application to Cement," BEA Working Papers 0072, Bureau of Economic Analysis.
    3. Raphael Thomadsen, 2005. "The Effect of Ownership Structure on Prices in Geographically Differentiated Industries," RAND Journal of Economics, The RAND Corporation, vol. 36(4), pages 908-929, Winter.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Nathan H. Miller & Matthew Osborne, 2014. "Spatial differentiation and price discrimination in the cement industry: evidence from a structural model," RAND Journal of Economics, RAND Corporation, vol. 45(2), pages 221-247, June.

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    More about this item

    Keywords

    Equilibrium models; Consistency; Asymptotic normality;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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