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AA10715861-00000165-0001  
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Title
Title On large market asymptotics for spatial price competition models  
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Creator
Name 大津, 泰介  
Kana オオツ, タイスケ  
Romanization Ōtsu, Taisuke  
Affiliation Department of Economics, London School of Economics; 慶應義塾大学産業研究所  
Affiliation (Translated) Keio Economic Observatory  
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Name 砂田, 啓太  
Kana スナダ, ケイタ  
Romanization Sunada, Keita  
Affiliation 慶應義塾大学大学院経済学研究科  
Affiliation (Translated) Graduate School of Economics, Keio University  
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Place
Tokyo  
Publisher
Name Keio Economic Observatory Sangyo Kenkyujo  
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Date
Issued (from:yyyy) 2022  
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Physical description
9 p.  
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Name KEO discussion paper  
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Issue 165  
Year 2022  
Month 1  
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Abstract
We study the problem of weak instruments in a demand estimation of spatial price competition models by Pinkse, Slade, and Brett (2002) (hereafter, PSB). Product characteristics are included in price instruments and have correlation with prices through the markup. We check whether product characteristics hold their identification power as the number of product grows in analogy with random coefficient discrete choice approach investigated by Armstrong (2016). The conventional weak instruments asymptotics do not work in PSB's model because a series estimation is nested in their two-stage least square estimator, and the number of endogenous regressors (and instruments) also grows as the number of products grows. We provide two asymptotic results that indicate the lack of inconsistency of PSB's estimator.
 
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Language
英語  
Type of resource
text  
Genre
Technical Report  
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publisher  
131.113.194.249
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Jan 19, 2022 11:05:07  
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Jan 19, 2022 11:05:07  
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Jan 19, 2022    インデックス を変更
 
Index
/ Public / Keio Economic Observatory(KEO) / KEO discussion paper / 101-149, 152, 155-156, 158-162, 164-168, 170
 
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