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We present methods to estimate marginal utility and marginal product functions that are nonadditive in the unobservable random terms, using observations from a single hedonic equilibrium market. We show that nonadditive marginal utility and nonadditive marginal product functions are capable of...
Persistent link: https://www.econbiz.de/10008541328
We present estimators for nonparametric functions that depend on unobservable random variables in nonadditive ways. The distributions of the unobservable random terms are assumed to be unknown. We show how properties that may be implied by economic theory, such as monotonicity, homogeneity of...
Persistent link: https://www.econbiz.de/10005034870