Estimation of Public Goods Game Data

Danielle Merrett ()

No 2012-09, Working Papers from University of Sydney, School of Economics

Abstract: This paper compares the performance of alternative estimation approaches for Public Goods Game data. A leave-one-out cross validation was applied to test the performance of five estimation approaches. Random effects is revealed as the best estimation approach because of its un-biased and precise estimates and its ability to estimate time-invariant demographics. Surprisingly, approaches that treat the choice variable as continuous out-perform those that treat the choice variable as discrete. Correcting for censoring is shown to induce biased estimates. A finite Poisson mixture model produced relatively un-biased estimates however lacked the precision of fixed and random effects estimation.

Keywords: finite mixture models; ordered logit; fixed effects; random effects; economic experiments; voluntary contributions mechanism; public goods (search for similar items in EconPapers)
Date: 2012-04
New Economics Papers: this item is included in nep-ecm
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Citations: View citations in EconPapers (1)

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