A Consideration in Estimating “Almost Nonsimultaneous” Market Models
指出，即使市场模型因成分市场很小而变得“几乎非同时”，OLS估计仍可能因成分市场对整体市场因素反应相似而产生与大型联立模型相同的估计问题，因此仅凭市场规模选择估计方法可能不够。
Abstract Feedback effects in markets with simultaneously determined variables create problems for OLS estimation. When only a component of a market is modeled, feedbacks are weakened. If the component is small enough, the model may become “almost nonsimultaneous,” and most researchers then consider OLS as generally acceptable. However, even without strong feedbacks, equilibrium market behavior may nonetheless create the same estimation problems as in the larger simultaneous model. This can arise when behavior in the component markets represents similar responses to factors in the overall market. Then the criterion of market size in selecting an estimation technique may be insufficient.