STRUCTURAL ESTIMATION OF SEQUENTIAL GAMES OF COMPLETE INFORMATION

Jason Blevins

Economic Inquiry, 2015, vol. 53, issue 2, 791-811

Abstract: type="main" xml:id="ecin12189-abs-0001"> In models of strategic interaction, there may be important order of entry effects if one player can credibly commit to an action (e.g., entry) before other players. If one estimates a simultaneous-move model, then the move-order effects will be confounded with the payoffs. This article considers nonparametric identification and simulation-based estimation of sequential games of complete information. Relative to simultaneous-move games, these models avoid the problem of multiple equilibria and require fewer payoff normalizations. We apply the estimator in several Monte Carlo experiments and to study entry-order effects using data from the airline industry . ( JEL C57, C15, L93)

Date: 2015
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Working Paper: Structural Estimation of Sequential Games of Complete Information (2014)
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