| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10111 |
| DP10111 Testing Equilibrium Multiplicity in Dynamic Games | |
| Martin Pesendorfer; Yuya Takahashi; Taisuke Otsu | |
| 发表日期 | 2014-08-17 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper proposes several statistical tests for finite state Markov games to examine the null hypothesis that the data are generated from a single equilibrium. We formulate tests of (i) the conditional choice and state transition probabilities, (ii) the steady-state distribution, and (iii) the conditional state distribution given an initial state. In a Monte Carlo study we find that the test based on the steady-state distribution performs well and has high power even with small numbers of markets and time periods. We apply the tests to the empirical study of Ryan (2012) that analyzes dynamics of the U.S. Portland Cement industry and assess if his assumption of single equilibrium is supported by the data. |
| 主题 | Industrial Organization |
| 关键词 | Dynamic markov game Multiplicity of equilibria Hypothesis testing |
| URL | https://cepr.org/publications/dp10111 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538944 |
| 推荐引用方式 GB/T 7714 | Martin Pesendorfer,Yuya Takahashi,Taisuke Otsu. DP10111 Testing Equilibrium Multiplicity in Dynamic Games. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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