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Persistent link: https://www.econbiz.de/10001340380
Maximum likelihood and two-step estimators of censored demand systems yield biased and inconsistent parameter estimates when the assumed joint distribution of disturbances is incorrect. This paper proposes a semiparametric estimator that retains the computational advantage of the two-step...
Persistent link: https://www.econbiz.de/10013147203
Persistent link: https://www.econbiz.de/10014444202