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In econometric theory two possibie situations of identifiability can arise: Equation under,consideration is identified or not identified:
1) Equation is under-identified-
If the structure of the equation is not unique or there is not sufficient linformationtto uniquely disfinguish the equation then the equation is under- identified.
2) Equation is identified
(a) Exactly identified: If there is sufficient information available to distinguish the equation then it is called just identified or exactly identified equation
(b) Over identified: If there is more than sufficient information regarding the equation then th$ equation is called over-identified.
A collection of colluding bidders. Ring members comply with rig bids by agreeing to not bid against one another, either by avoiding the auction or by putting phony (phantom) bids
1. Find all NE of the following 2×2 game. Determine which of the NE are trembling-hand perfect. 2. Consider the following two-person game where player 1 has three strategie
Treating probability as a logic, Thomas Bayes defined the following: Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y) For example, probability that the weather was bad given that our friends playe
A reserve worth is that the minimum acceptable bid in an auction. If no bidder submits a bid higher than the reserve worth, the auctioneer keeps the item offered for sale. Alternat
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Problem:-Two players take turns choosing a number between 1 and 10 (inclusive), and a cumulative total of their choices is kept. The player to take the total exactly to 100 is the
A game frequently displayed in tv police dramas. 2 partners in crime are separated into separate rooms at the police station and given an identical deal. If one implicates the oppo
An auction associates who submits offers (or bids) to sale or buy the goods being auctioned.
Scenario Two conspirators are arrested and interrogated separately. If one implicates the opposite, he might go free whereas the opposite receives a life sentence. Yet, if each
A class of games of imperfect data during which one player (the principal) tries to supply incentives to the opposite (the agent) to encourage the agent to act within the principal
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