A general central limit theorem is proved for estimators defined by minimization of the length of a vector-valued, random criterion function. No smoothness assumptions are imposed on the criterion function in order that the results might apply to a broad class of simulation estimators. Complete...

This paper introduces a stochastic algorithm for computing symmetric Markov perfect equilibria. The algorithm computes equilibrium policy and value functions, and generates a transition kernel for the (stochastic) evolution of the state of the system. It has two features that together imply that...

This paper develops techniques for empirically analyzing demand and supply in differentiated product markets and then applies these techniques to the U.S. automobile industry. The authors' framework enables one to obtain estimates of demand and cost parameters for a class of oligopolistic...

Technological change and deregulation have caused a major restructuring telecommunications equipment industry over the last two decades. Our empirical focus is on estimating the parameters of a production function for the equipment industry, and then using those estimates to analyze the...