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Market Structure and Rivalry: New Evidence with a Non-Linear Model
Michael L. Marlow, John P. Link and Robert P. Trost
The Review of Economics and Statistics
Vol. 66, No. 4 (Nov., 1984), pp. 678-682
Published by: The MIT Press
Stable URL: http://www.jstor.org/stable/1935994
Page Count: 5
You can always find the topics here!Topics: Rivalry, Mathematical dependent variables, Linear models, Financial market structures, Estimators, Variable coefficients, Economic models, Modeling, Statistical estimation, Economic growth models
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It is argued that the estimation techniques used by previous researchers to study rivalry in financial markets are inappropriate. The assumptions of both ordinary least-squares and Tobit analysis are violated when these techniques are used to analyze mobility and turnover data. To overcome the difficulties in the previous studies, we suggest a non-linear model (which is closely related to the Poisson model). This model is designed for describing frequency data and is not subject to the criticisms to which ordinary least-squares and Tobit are subject.
The Review of Economics and Statistics © 1984 The MIT Press