ERC Consolidator Grant · 2016
Illicit Markets, Unobserved Competitors, and Illegal Behavior
Many markets are characterized by illicit or illegal behavior by agents. To the extent that the empirical economic framework does not incorporate these unobserved actions or control for them in estimation, the resulting models are likely to be mis-specified. Naturally, if the models do not contain all elements relevant for decision making, then predictions based on the estimates will be misleading, which could result in incorrect policy recommendations. This project directly addresses three situations in which unobserved behavior plays a crucial role. The first concerns markets where consumers engage in illicit behavior. These markets are prevalent in society as they constitute the market…
From the public funding record at EU CORDIS. Describes the funded project, not the reviews below.