Essays in Microeconometrics

Klein, Tobias J.

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URN: urn:nbn:de:bsz:180-madoc-13087
Dokumenttyp: Dissertation
Erscheinungsjahr: 2006
Verlag: Universität Mannheim
Gutachter: Stahl, Konrad
Datum der mündl. Prüfung: 28 Juli 2006
Sprache der Veröffentlichung: Englisch
Einrichtung: Fakultät für Rechtswissenschaft und Volkswirtschaftslehre > VWL, Mikroökonomik (Stahl Em)
Fachgebiet: 330 Wirtschaft
Fachklassifikation: JEL: C21 J31 L86 ,
Normierte Schlagwörter (SWD): Ökonometrie , Industrieökonomie , Arbeitsmarktforschung
Freie Schlagwörter (Englisch): Econometrics , Industrial Organization , Labor Economics
Abstract: Over the last decades individual field data has become more and more available to researchers. In three self-contained chapters, this thesis is concerned with the analysis of such data and some associated challenges. Chapter 1 contains an introduction. Chapter 2 is concerned with the problem of evaluating the impact of a treatment on an outcome variable, e.g. the effect of on-the-job training on wages. A fundamental identification problem arises in case the treatment decision and the idiosyncratic gains from participation depend on each other. Imbens and Angrist (1994) were the first to exploit monotonicity of the treatment decision in instruments in order to identify an average treatment effect parameter. More recently, Heckman and Vytlacil (1999, 2000a, 2000b, 2005) suggested estimation of a variety of treatment effect parameters using a local version of their approach. However, identification hinges on the same monotonicity assumption that is fundamentally untestable. We investigate the sensitivity of respective estimates to reasonable departures from monotonicity that are likely to be encountered in practice and relate it to properties of a structural parameter. One of our results is that the bias vanishes under a testable linearity condition. Our findings are illustrated in a Monte Carlo analysis. Thereafter, in Chapter 3, we propose and implement an estimator for identifiable features of correlated random coefficient models with binary endogenous variables and nonadditive errors in the outcome equation. The estimator we propose is suitable, e.g., for estimation of the average returns to college education if they are heterogeneous across individuals and correlated with the schooling choice. The estimated features are of central interest to economists and are directly linked to the marginal and average treatment effect in policy evaluation. They are identified under assumptions weaker than typical exclusion restrictions used in the context of classical instrumental variables analysis. In our application for the U.K., we relate levels of expected wages to unobserved ability, measured ability, family background, type of secondary school, and the decision whether to attend college. While Chapters 2 and 3 focus on recovering identifiable features of a structural equation, Chapter 4 follows a different approach. It is concerned with feedback mechanisms in electronic markets that allow partners to rate each other after a transaction. These mechanisms are considered crucial for the success of anonymous internet trading platforms. Rather than estimating a system of structural equations we document an asymmetry in the feedback behavior on eBay, propose an explanation based on the micro structure of the feedback mechanism and the time when feedbacks are given, and support this explanation by findings from a large data set. Our analysis implies that the informational content of feedback records is likely to be low. We argue that the reason for this is that agents leave feedbacks strategically. Negative feedbacks are given late, in the "last minute", or not given at all, most likely because of the fear of retaliative negative feedback. Conversely, positive feedbacks are given early in order to encourage reciprocation. Towards refining our insights into the observed pattern, we look separately at buyers and sellers, and relate the magnitude of the effects to the trading partners' experience.
Übersetzter Titel: Aufsätze zur Mikroökonometrie (Deutsch)
Übersetzung des Abstracts: Die Dissertation befasst sich mit der Analyse individueller Felddaten. Kapitel 1 beinhaltet die Einleitung. Kapitel 2 und 3 behandeln zwei Themen auf dem Gebiet der Programmevaluation. Kapitel 4 enthält eine Studie zur Effektivität des eBay-Reputationsmechanismus. (Deutsch)
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Klein, Tobias J. (2006) Essays in Microeconometrics. [Dissertation]

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