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Identification Problem

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What is the identification problem? What effect will this problem have on the regression estimates of a demand function?

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What is the identification problem? What effect will this problem have on the regression estimates of a demand function?
The identification problem happens when estimations are to be made of econometric models where the equations have common variables. For instance if we attempt to know the equation for the demand function and the supply function, the equation we get by regressing quantity on market price cannot be identified as the demand ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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