, "Intransitivity in Correlations," related to an under-utilized property from the statistics literature. From this principle, it is …

consistent estimates of the joint model: (i) a demand-side instrument, or (ii) a covariance restriction between unobserved demand … and cost shocks. The covariance restriction approach can obtain identification even the absence of instruments. Further …, supply and demand assumptions alone may bound the structural parameters. We develop an estimator for the covariance …

squared distance is proposed. The statistic’s asymptotic distribu- tion under the MAR hypothesis is derived. We demonstrate … conditional on covariates X (MCAR(X)). A Monte Carlo study examines finite sample performance of our test statistic. An empirical …