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- Title
A social interaction model with an extreme order statistic.
- Authors
Tao, Ji; Lee, Lung‐fei
- Abstract
In this paper, we introduce a social interaction econometric model with an extreme order statistic to model peer effects. We show that the model is a well-defined system of equations and that it is a static game with complete information. The social interaction model can include exogenous regressors and group effects. Instrumental variables estimators are proposed for the general model that includes exogenous regressors. We also consider distribution-free methods that use recurrence relations to generate moment conditions for estimation. For a model without exogenous regressors, the maximum likelihood approach is computationally feasible.
- Subjects
SOCIAL interaction; ORDER statistics; ECONOMETRIC models; REGRESSION analysis; ESTIMATION theory
- Publication
Econometrics Journal, 2014, Vol 17, Issue 3, p197
- ISSN
1368-4221
- Publication type
Article
- DOI
10.1111/ectj.12031