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Date: | Sat, 23 Sep 2006 08:44:42 -0500 |
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title: Statistical Backwards Induction: A Simple Method for Estimating Statistical Strategic Models
authors: Muhammet Bas, Curtis Signorino, Robert Walker
entrydate: 2006-09-22 21:40:49
keywords: discrete choice, strategic, QRE, logit, probit, statistical backwards induction, limited information estimation
abstract: We present a simple method for estimating regressions based on extensive-form games. Our procedure, which can be implemented in most standard statistical packages, involves sequentially estimating standard logits (or probits) in a manner analogous to backwards induction. We demonstrate that the technique produces consistent parameter estimates and show how to calculate consistent standard errors using model-dependent analytical and general simulation techniques. To illustrate the method, we replicate Leblang’s (2003) study of speculative attacks by financial markets and government responses to these attacks.
http://polmeth.wustl.edu/retrieve.php?id=643
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