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Revisiting the Identification of the Conduct Parameter in Homogeneous Goods Markets
Yuri Matsumura, Suguru Otani
We revisit the identification of the conduct parameter in homogeneous goods markets. Lau (1982) argues that the conduct parameter is not identified if and only if the inverse deman…
Conduct Parameter Estimation in Homogeneous Goods Markets with Equilibrium Existence and Uniqueness Conditions: The Case of Log-linear Specification
Yuri Matsumura, Suguru Otani
We propose a constrained generalized method of moments (GMM) estimator with some equilibrium uniqueness conditions for estimating the conduct parameter in a log-linear model with h…
Challenges in Statistically Rejecting the Perfect Competition Hypothesis Using Imperfect Competition Data
Yuri Matsumura, Suguru Otani
We theoretically prove why statistically rejecting the null hypothesis of perfect competition is challenging, known as a common problem in the literature. We also assess the finite…
Resolving the Conflict on Conduct Parameter Estimation in Homogeneous Goods Markets between Bresnahan (1982) and Perloff and Shen (2012)
Yuri Matsumura, Suguru Otani
We revisit conduct parameter estimation in homogeneous goods markets to resolve the conflict between Bresnahan (1982) and Perloff and Shen (2012) regarding the identification and t…