We investigate two interrelated questions concerning the institution of bankruptcy. First, is there a link between legislative activity and business cycle fluctuations, and if so, what is its character? Legislative activity from 1790 through 1994 is documented and matched with business cycle...

This paper develops a framework for performing estimation and inference in econometric models with partial identification, focusing particularly on models characterized by moment inequalities and equalities. Applications of this framework include the analysis of game-theoretic models, revealed...

We provide a framework for inference in discrete games that involve multiple decision makers and use it to study airline market structure in the US. We make inferences on a "class of models" rather that looking for point identifying assumptions that pin down a unique model. Making inferences in...

We provide a framework for inference in discrete games that involve multiple decision makers and use it to study airline market structure in the US. We make inferences on a ``class of models'' rather that looking for point identifying assumptions that pin down a unique model. We extend the...

We study the problem of parameter inference in (possibly non-linear and non-smooth) econometric models when the data are measured with error. We allow for "arbitrary" correlation between the true variables and the measurement errors. To solve the identification problem, we require the existence...

We examine the identification power that (Nash) equilibrium assumptions play in conducting inference about parameters in some simple games. We focus on three static games in which we drop the Nash equilibrium assumption and instead use rationalizability as the basis for strategic play. The first...

While English auctions are the most common in practice, their rules typically lack sufficient structure to yield a tractable theoretical model without significant abstractions. Rather than relying on one stylized model to provide an exact interpretation of the data, we explore an incomplete...

Identification of dynamic nonlinear panel data models is an important and delicate problem in econometrics. In this paper we provide insights that shed light on the identification of parameters of some commonly used models. Using this insight, we are able to show through simple calculations that...