Symmetric experimental designs: conditions for equivalence of panel data estimators

This paper specifies the panel data experimental design condition under which ordinary least squares, fixed effects, and random effects estimators yield identical estimates of treatment effects. This condition is relevant to the large body of laboratory experimental research that generates panel dat...

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Bibliographic Details
Published in:Journal of the Economic Science Association 2016-05, Vol.2 (1), p.85-95
Main Authors: Oaxaca, Ronald L., Dickinson, David L.
Format: Article
Language:English
Subjects:
Behavioral/Experimental Economics
Economic models
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Estimating techniques
Experimental Tools
Game Theory
Longitudinal studies
Microeconomics
Operations Research/Decision Theory
Regression analysis
Social and Behav. Sciences
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Summary:This paper specifies the panel data experimental design condition under which ordinary least squares, fixed effects, and random effects estimators yield identical estimates of treatment effects. This condition is relevant to the large body of laboratory experimental research that generates panel data. Although the point estimates and the true standard errors of the estimated average treatment effects are identical across the three estimators, the estimated standard errors differ. A standard F test as well as asymptotic reasoning guide the choice of which estimated standard errors are the appropriate ones to use for statistical inference.
ISSN:2199-6776
2199-6784
2199-6784
DOI:10.1007/s40881-016-0022-x