Lower Bound Estimation – Quantile Regression and Simplex Method: An Application to Italian Manufacturing Sectors
用分位数回归估计Sutton的下界，展示了异常值对单纯形法估计的影响，并基于意大利制造业微观数据验证了Sutton预测的稳健性。
This paper estimates Sutton's lower bound [1991, 1998] by quantile regression, and thus shows the influence of outliers on previous estimates that used the simplex method. The lower bound estimates are obtained separately for exogenous and endogenous sunk cost industries in Italian manufacturing sectors in 1995, using microdata from the SCI’95 (Firms Accounts System) survey conducted by ISTAT (National Institute of Statistics, Italy). The results suggest that Sutton's predictions are robust.