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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 multiunit auction mechanism for assigning heterogeneous (different) objects. The highest bidder in the first round selects one item among those offered for sale. Then, a second r
Matches or different objects are organized in 2 or a lot of piles. Players alternate removing some or all of the matches from anyone pile. The player to get rid of the last match w
A uniform worth auction may be a multiunit auction during which each winning bidder pays identical worth, which can or might not be equal to the participants' bids. Alternatively,
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A non-credible threat may be a threat created by a player in a very Sequential Game which might not be within the best interest for the player to hold out. The hope is that the thr
A sequential game is one among imperfect data if a player doesn't grasp precisely what actions different players took up to that time. Technically, there exists a minimum of one da
Equilibrium payoffs are (2, 3, 2). Player A’s equilib- rium strategy is “N and then N if b follows N or N if d follows N” or “Always N.” Player B’s equilibrium strategy is “b if N
Rules of Snake Eyes (small variation on game called Craps in USA) Player rolls two dice. On the first roll if the total of the dice is 2 (snake eyes): player wins and rece
(a) A player wins if she takes the total to 100 and additions of any value from 1 through 10 are allowed. Thus, if you take the sum to 89, you are guaran- teed to win; your oppone
What is the different monopolistic competition and perfect competition? Monopolistic Competition versus Perfect Competition Into the long-run equilibrium of a monopolistical
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