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AA10715861-00000165-0001.pdf
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Title |
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On large market asymptotics for spatial price competition models
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大津, 泰介
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Kana |
オオツ, タイスケ
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Romanization |
Ōtsu, Taisuke
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Department of Economics, London School of Economics; 慶應義塾大学産業研究所
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Keio Economic Observatory
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砂田, 啓太
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スナダ, ケイタ
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Sunada, Keita
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慶應義塾大学大学院経済学研究科
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Graduate School of Economics, Keio University
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Keio Economic Observatory Sangyo Kenkyujo
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2022
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KEO discussion paper
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165
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2022
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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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History |
Jan 19, 2022 | | インデックス を変更 |
Oct 3, 2022 | | Creator 著者ID,Creator Name,Creator Kana,Creator Romanization,Creator Affiliation,Creator Affiliation (Translated),Creator Role,Creator Link を変更 |
Oct 16, 2023 | | JaLCDOI を変更 |
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Index |
/ Public / Keio Economic Observatory(KEO) / KEO discussion paper / 101-102, 104-108, 110-119, 121-144, 147-149, 152, 155-156, 158-162, 164-168, 170, 173, 175, 177-178 |
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