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|Title:||Estimation of Public Goods Game Data|
School of Economics
voluntary contributions mechanism
finite mixture models
|Publisher:||School of Economics|
|Abstract:||This paper compares the performance of alternative estimation approaches for Public Goods Game data. A leave-one-out cross validation was applied to test the performance of five estimation approaches. Random effects is revealed as the best estimation approach because of its un-biased and precise estimates and its ability to estimate time-invariant demographics. Surprisingly, approaches that treat the choice variable as continuous out-perform those that treat the choice variable as discrete. Correcting for censoring is shown to induce biased estimates. A finite Poisson mixture model produced relatively un-biased estimates however lacked the precision of fixed and random effects estimation.|
|Department/Unit/Centre:||School of Economics|
|Type of Work:||Working Paper|
|Appears in Collections:||Working Papers - Economics|
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