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http://hdl.handle.net/2123/8256
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| Title: | Estimation of Public Goods Game Data |
| Authors: | Merrett, Danielle School of Economics |
| Keywords: | public goods voluntary contributions mechanism economic experiments random effects fixed effects ordered logit finite mixture models |
| Issue Date: | Apr-2012 |
| Publisher: | School of Economics |
| Series/Report no.: | 2012-09 |
| 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. |
| URI: | http://hdl.handle.net/2123/8256 |
| Department/Unit/Centre: | School of Economics |
| Appears in Collections: | Working Papers - Economics |
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