tailieunhanh - Quantitative Techniques for Competition and Antitrust Analysis_14

Tham khảo tài liệu 'quantitative techniques for competition and antitrust analysis_14', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | . Demand System Estimation Models of Continuous Choice 443 Table . IV estimation results based on forty-four observations. Regressors Coefficient Robust std. err. t p i 95 Conf. interval InC- Sugar Quarter 1 Quarter 2 Quarter 3 Constant e -i- . R2 . The dependent variable in this regression IS ln eSugaI . are a cost of producing sugar and will therefore ordinarily affect observed prices according to economic theory Rid aIsofarmersi . On ehe otherhondi given that farmers are a small minority of the population and that the increase in their wages is not likely to translate into materiel incriasssinsugrn- roeoumplion larinwoici are unlikely to materially affect theopgtegatedemand forsugar. The 2SLS estimation proceeasiniwosiaees Ist-stageregression In Pt a -ig e e iỢi . n . .-yi. .0 e-Êí i g a 2nd-stage regression m Qt r-Mn Ph eian . tg I - where wt is the farm wage at time s -neinAistagestimated 1 a of price Cb-tained from the first-stage regression. Most statistical computer packages are able to perform this procedure and in d illgt plwis1e .ac fr ooi bo th regret sionc8 The quarterly dummies are alsoinelude- in taenrst-etagerenressietsigca th-requirement for an instrument tobgvalieis shit is ssce-eietedwttìtanandoganaus variable conditional on the inchisaxnghnosovariabiee. Deginad it -tieS0ieanenri so that the quarterly dummies arrnotconeigtedwitv prsoescendisirnal og Shi included exogenous variables andrei greaosgatidinstaumenta forprt-er even if they are valid instruments for Semsnlhat . caílbetaegthdnaenoaenger. The results of the instrument-1 vsnéable ettresaiieg pre nreaensen in The results show a lower coeffig entfi r oì . is now and is below the prenioueOLe ettimate. Bgcauae nanatn fn-il2bilsse on farm wages some observationsh Si- - .