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- W2131617662 abstract "This paper considers the estimation problem of structural models for which empirical restrictions are characterized by a fixed point constraint, such as structural dynamic discrete choice models or models of dynamic games. We analyze a local condition under which the nested pseudo likelihood (NPL) algorithm converges to a consistent estimator, and derive its convergence rate. We find that the NPL algorithm may not necessarily converge to a consistent estimator when the fixed point mapping does not have a local contraction property. To address the issue of divergence, we propose alternative sequential estimation procedures that can converge to a consistent estimator even when the NPL algorithm does not." @default.
- W2131617662 created "2016-06-24" @default.
- W2131617662 date "2012-01-01" @default.
- W2131617662 modified "2023-10-14" @default.
- W2131617662 title "Sequential Estimation of Structural Models With a Fixed Point Constraint" @default.
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- W2131617662 doi "https://doi.org/10.3982/ecta8291" @default.
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