Estimation of Public Goods Game Data
Access status:
Open Access
Type
Working PaperAuthor/s
Merrett, DanielleAbstract
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 ...
See moreThis 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.
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See moreThis 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.
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Date
2012-04-01Publisher
School of EconomicsDepartment, Discipline or Centre
School of EconomicsShare