When do Secondary Markets Harm Firms? – Online Appendixes (Not for Publication)
نویسندگان
چکیده
In calibrating the model, some of the parameter values are chosen based on data or recent empirical studies (summarized in Table 1 of the paper), and the remaining are obtained by finding the parameterization that best matches the steady state in the model to the average values in the American automobile industry over the 1994–2003 period. For the latter, we use the MPEC (Mathematical Programming with Equilibrium Constraints) approach, recently advocated by Su and Judd (2008).
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